Nonprofit
Understanding The Limitations of Nonprofit Political Activity
As a nonprofit organization, engaging in political activities is a common and necessary practice. However, there are limitations that must be understood in order to avoid legal issues and penalties. In this article, we will explore the limitations of nonprofit...
Nonprofit Laws in Virginia
Organizations formed in Virginia to conduct business on a nonprofit or not-for-profit basis are usually formed as Virginia nonstock corporations. These corporations, which can, but are not required to, have members (i.e., a membership), do not have owners. When you...
Conflict Of Interest Policies Under the Not-for-Profit Corporation Law
This guide will assist nonprofits in implementing successful Conflict of Interest Policies. This guide reflects amendments to the Not-for-Profit Corporation Law (“N-PCL”) which became effective May 27, 2017. Why implement a Conflict of Interest Policy? A Conflict of...
Commercial Co-Ventures: How-To
Overview: Many nonprofits choose to team up with a for-profit business to benefit the charity while simultaneously promoting a product, service, or good that the business is selling. What is described here is known as a commercial co-venture. While this activity may...
Unrelated Business Income- What to be Aware of as a 501(c)(3) Organization
As a nonprofit corporation operating under §501(c)(3) of the Internal Revenue Code, maintaining tax-exempt status is a priority. However, a corporation may generate income from activities that are taxable. For example, a church may operate a theater for educational...
Required Disclosures and Duties Owed to Donors as a 501(c)(3) Organization
For nonprofit organizations operating under §501(c)(3) of the Internal Revenue Code, some records are open for public inspection. This includes: Annual returns for 3 years after the due date, such as Form 990 and 990-T. All Form 990 schedules, attachments, and...
5 requirements you must meet to start a non-profit corporation
There are many reasons you might want to start a non-profit corporation. Perhaps you have a passion for giving back and a great idea for addressing a known need or issue in the world. Maybe you already operate a for-profit business and would like a separate charitable...
Starting a Nonprofit Corporation
March 3, 3031 Law Academy Seminar https://web.zoom.us/rec/share/F4iYn1kkOMe1hT8yoFvfxHR81hL4gLdRgfelHVyLq0J8bpWqElCJ4yRr_TPn4Ob5.Lnkl2t7vw5YAKrK4?startTime=1614786629000
What’s Required To Run A Nonprofit?
With so many wonderful causes in need of support these days, there is a constant need for funding. Though many companies and businesses seek to do their good work through a triple bottom line approach that takes good works as an afterthought, some entrepreneurs may...