Foundation Group’s CEO, Greg McRay, was interviewed on the New Year’s Day episode of The Balancing Act on Lifetime Television. Co-host Julie Moran talked with Greg about the what’s involved with starting a nonprofit. It was a lot of fun…
When it comes to the intersection of estate planning, charity, and philanthropy, there are many things that must be considered. It may be estate tax concerns, leaving an inheritance to your family, or creating a lasting legacy of giving that…
When it comes to establishing an appropriate philanthropic vehicle, the two most often chosen are Private Foundations (PF) and Donor Advised Funds (DAF). Both have their distinct advantages, as well as some drawbacks. DAFs have become increasingly popular over the…
Good news from the IRS usually sounds like the beginning of a funny joke…but not this time. In an unexpected move, the IRS announced in late January a revised filing fee schedule for applicants for 501(c) status. Most applicants will…
We get a lot of questions from our clients about their organizations’ meeting minutes. Our exemption specialists often give advice on questions like “When should we record meeting minutes?” and “Why are meeting minutes so important?” There is great importance…
No decision you make regarding your nonprofit organization carries more importance than who is chosen to lead it. The members of your board of directors make up the governing body of your nonprofit and are legally accountable for its actions. …
The king of the nonprofit world is the 501(c)(3) public charity. This is what most people mean when talking about a nonprofit. It has federal income tax exemption, contributions to it are tax deductible to the donor and it is…
Once you’ve decided your mission, developed an operations strategy and started building a team, it’s time to prepare and file your incorporation documents and 501(c)(3) status applications. If you’ve done your homework properly in documenting your mission, strategy and plans,…
Executive compensation is a hot-button topic for both nonprofit and for-profit companies. With the nature of compensation changing dramatically for technology and other high-growth industries, it is important to understand what is fair and competitive when setting your employee salaries…
One of the most important things that a nonprofit can do to build a sustainable organization is to develop a robust fundraising system. Funding for nonprofits typically comes from three sources: donations, grants, and program revenue. Each of these sources has benefits and…