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Nonprofit Organization Articles
This section of the LaunchX Business Startup library contains helpful articles and reference information to assist you in starting and running your nonprofit organization.
Is Nonprofit Status the Right Decision for Your Venture?
When determining whether to establish your venture as a nonprofit organization, it is important to understand what nonprofit status will mean for your organization and for you personally. Most of the effects of nonprofit status are related to the tax obligations of the organization. Read more about whether having nonprofit status will be right for your organization...
Keeping Track of the Cash -- Top 5 Mistakes Nonprofits Make
Managing the money is important to the sustainability of a nonprofit organization. Take note of these five mistakes that nonprofits make and plan to avoid them in your organization. Read more about the top five financial mistakes that nonprofiits make...
Starting a Nonprofit? You are Still an Entrepreneur!
Many founders of nonprofit organizations don't see themselves as entrepreneurs, the reality is that they are every bit as much an entrepreneur as the person starting a for profit business. Nonprofit founders rely on the same initiative, risk management, and motivation to start their organizations. Read more about using entrepreneurial traits to make your nonprofit organization a success...
The Distinctions Between Private Foundation and Public Charity
When filing for IRS 501(c)(3) status with the IRS, one distinction that may be unclear is the difference between a private foundation and a public charity. The preferred status for most nonprofit organizations is the public charity, however not all organizations qualify. Read more about the distinctions between private foundation and public charity...
Social Entrepreneurship -- For-Profit and Nonprofit
Social entrepreneurs include any innovative, independent business owner who uses entrepreneurial skills to contribute to the betterment of society, whether through a nonprofit organization or a for-profit business. Deciding which route to take is a decision social entrepreneurs must make in the planning for their new venture. Read more about the choices that social entrepreneurs make...
Need a Job? Don't Start a Nonprofit!
Many entrepreneurs look to starting a nonprofit as a way to accomplish two goals simultaneously -- creating an income for themselves and contributing to the greater good. The reality is that if these are your goals, you are likely to be better served by starting a business and either contributing to or starting a nonprofit separately. Read more about why you shouldn’t start a nonprofit just to create a job for yourself...
Requirements to Become an IRS 501(c)(3) Tax-Exempt Organization
If you are starting a nonprofit organization and expect to apply for tax-exempt status from the IRS under 501(c)(3), then take these five factors into consideration as you are planning your organization. Read more about the requirements to become an IRS 501(c)(3) tax-exempt organization...
Starting a Nonprofit Organization? There is No Personal Profit in a Nonprofit
There are many great reasons for starting a nonprofit organization, but personal financial gain cannot be one of them. Due to both the nature of nonprofit organizations and IRS rules, a nonprofit organization cannot provide personal profits to an individual or business closely related to the nonprofit. Read more about starting a nonprofit organization...
Starting a Youth Athletic Nonprofit? Know How to State Your Purpose for the IRS
For recognition as a 501(c)(3) organization by the IRS, you must have properly stated the purpose of your organization. This can be tricky for youth athletics, so follow these helpful hints to get it right. S Read more about stating your purpose for the IRS when starting a youth athletic nonprofit...
The All-Volunteer Nonprofit Organization
Nonprofit organizations can be either all-volunteer or have some paid staff. The decision on whether to have paid staff can have consequences for fundraising, sustainability, and longevity of the new nonprofit organization. Read more about the decision to be an all-volunteer nonprofit organization...
Should Your Social Entrepreneurial Idea be a Business or a Nonprofit?
Social entrepreneurs often believe that because they want to do good, they must be registered as a nonprofit organization. The rules to qualify as a nonprofit significantly limit the types of organizations that qualify, and many social entrepreneurs will find that starting a business is the right choice. Read more about deciding whether to start a business or nonprofit organization...
Basics of IRS 501(c)(3) for Nonprofit Organizations
If your nonprofit organization wants to make it possible for your donors to claim their contribution to you as a deduction on their personal taxes, you will need to obtain designation by the Federal IRS as a 501(c)(3) organization. The basics of 501(c)(3) designation are to establish your nonprofit corporation, file the application, and keep your organization moving forward during the review process. Read more about the basics of IRS 501(c)(3) for Nonprofit Organizations...
Understanding the Nonprofit Board of Directors
The Board of Directors of your nonprofit is very similar to the Board of Directors of a for-profit corporation. However, there are a few significant differences that you should be aware of when forming your nonprofit organization. Read more about your Nonprofit Board of Directors...
Your Nonprofit Organization: Benefits of Incorporating
While nonprofit organizations are not required to be incorporated, the benefits of incorporation are numerous and worth the time involved in to incorporate for most nonprofit organizations. Read more about the benefits of incorporating your nonprofit organization...
Your Nonprofit Organization: What's a Founder To Do?
Once you have your nonprofit organization launched, you will need to decide what role you, as the founder, will play in the organization. Will you join the board of directors or will you fill the executive director role. Consider these factors when making your decision. Read more about the founder’s role in a nonprofit organization...
Launching a Nonprofit? Should You Incorporate?
While most nonprofits are organized as corporations, it is not always necessary to do so. It is important to understand and evaluate the relevancy of the benefits and limitations of choosing corporate status before committing the time, effort, and money to developing your nonprofit as a corporation. Read more about whether you should incorporate your nonprofit organization...
The Quandary of a Nonprofit Founder
Launching a nonprofit is very different from running your own for-profit venture. Nonprofit founders must be prepared to let go of the reins once the organization is on its feet, and be satisfied with the knowledge that they have done a good thing for the world. Read more about making the transition from founder to your new role in your nonprofit organization...
Before You Launch a New Nonprofit
Launching a nonprofit is serious business, so it is important to seriously consider your decision before you commit. The nonprofit world is highly competitive and funding is limited, but a good nonprofit idea and a well-run corporation can make an enormous difference in the world of your target population. Read more about things to consider before you launch your new nonprofit organization...
Ethics in Nonprofit Organizations
When starting a nonprofit organization, it is vitally important to establish and maintain a culture of the highest ethical behavior. Nothing turns off donors and supporters faster than unethical actions. Use these ideas to ensure your nonprofit is adhering to the highest standards of ethics. Read more about ethics in nonprofit organizations...
Starting a Nonprofit? Understand the Basics
The effort that must go into a successful nonprofit is very similar to launching any type of business. By nature, non-profits have some special considerations that you should understand when starting a nonprofit organization. Read more about the basics of starting a nonprofit organization...
Not-for-Profit vs. Nonprofit -- Is there a difference?
For people new to the world of nonprofits, there is often significant confusion about the use of the terms "nonprofit" and "not-for-profit". Though there are some technical differences between the two, they are generally used interchangeably. Read more about the terms not-for-profit and nonprofit...
The Future of For-Profit and Nonprofit Organizations
Whether incorporating charitable or cooperative features into a for-profit business or integrating solid entrepreneurial principles into developing a nonprofit, social entrepreneurship is driving a much-needed change in the way we do business. Read more about the future of for-profit and nonprofit organizations...
Social Entrepreneurs Need to Understand the Differences Between Nonprofits and For-Profit Businesses
The social entrepreneur who wants to make a difference in a specific area has two fundamental vehicles to make that difference, the nonprofit organization or a for-profit business with a charitable bent. Understanding the differences between these types of organizations will help you select the right one for you. Read more about the differences between nonprofit organizations and for-profit organization for social entrepreneurs...
Nonprofit Fundamentals are Business Fundamentals
Whether you are starting a nonprofit organization or a for-profit startup, the business fundamentals involved in startup are the same. The three keys to success are planning, marketing, and financial management. Read more about business fundamentals for nonprofit organizations...
What is a Social Entrepreneur?
The social entrepreneur is a new breed of entrepreneur, focused on creating great organizations that not only succeed, but also give back to the community at large. Are you ready to join their ranks? Read more about being a social entrepreneur...
Social Entrepreneurship – For-Profit or Nonprofit?
The single largest question facing a social entrepreneur is whether to start a for-profit business that then can support their causes or a nonprofit organization focused on those causes. The best choice depends on a number of actors. Read more about making the decision to be a for-profit business or a nonprofit organization...
What is a Nonprofit Organization Exactly?
While there are lots of organizations that are not making a profit, the true nonprofit organization has a specific definition. The primary characteristic that each operates for the purpose of a particular public interest and not to earn profit for the benefit of individual shareholders. Read more about the definition of a nonprofit organization...
Nonprofit Organization Essentials
There are a few fundamentals required of the social entrepreneurs who will succeed at making an important impact in the world around them. In order to succeed in developing a new nonprofit, you will need a viable cause, commitment and resources. Read more about the fundamentals of nonprofit organizations...
Business Values -- For-Profit and Nonprofit Ventures
The nonprofit world has strived to set themselves apart from for-profits by establishing a culture of openness, positive shared values, and respect. The newest breed of business owners, known as Social Entrepreneurs, are taking the lead in incorporating the values of the nonprofit sector into the for-profit world. Read more about how social entrepreneurs are incorporating values from the nonprofit sector into the for-profit realm...
