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Who Makes Decisions in a 501(c)3?

Posted by ALEX CHEN | Sep 18, 2019 | 0 Comments

A 501(c)3 nonprofit is essentially a business – one that acts in the public interest and does not need to pay taxes. As such, the decision-making process should be modeled after corporations. So in addition to having officers such as CEO/President, Vice President, you also need a board of directo...

Basic Overview of the Process of Incorporating 501(C)3s

Posted by ALEX CHEN | Sep 18, 2019 | 0 Comments

If you already know what your nonprofit organization is doing, then you're already in good shape. You'll need to file articles of incorporation with the state you're registering in. A lot of states, like TX and CA, have nonprofit-specific forms that you can fill out online. After you do that and...

Avoiding Self-Dealing

Posted by ALEX CHEN | Sep 18, 2019 | 0 Comments

The biggest trap that most private foundations fall into is self-dealing. Self-dealing is very broadly defined, but the general definition is officers and directors using foundation funds to enrich themselves or their business. Blatant examples include directly taking foundation funds or donation...

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