10 Keys to Starting a Nonprofit – Private Foundation

A thoughtful commitment to charitable giving and sufficient funding are baselines for starting a nonprofit private foundation.  But there’s more needed.  Check out the following steps you should take as you move forward: Identify your reasons for starting a new organization.  Are they primarily altruistic or personal? What is it about starting and operating a private […]

Starting a Self-Sustainable Nonprofit

Can a charitable nonprofit be profit-making and sustainable without donations? It is a common misconception that “nonprofit organization” and “profit-making” are mutually exclusive concepts.  It’s certainly possible from a legal perspective for a charitable nonprofit to generate profits if the profit-making activities are related to furthering a valid charitable purpose.  And by related, we mean […]

IRS Eliminates Advance Rulings Process

On September 8, 2008, the IRS issued new regulations that eliminate the public charity advance ruling process.  IR-2008-102, “IRS Streamlines Application Process for New Tax-Exempt Organizations,” stated in part: The Internal Revenue Service and the Treasury Department today issued new regulations that do away with the so-called advance rulings that granted public charity status for […]