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Non-Profit (tax exempt) advice
Posted on 3/9/24 at 12:19 pm
Posted on 3/9/24 at 12:19 pm
I started an organization for a good cause that is a non-profit and also received tax exempt status. Is there a certain advice you would give on how to maximize the tax exempt aspect of the foundation or recommend a CPA who specializes in this?
1
Posted on 3/9/24 at 5:51 pm to TigerSaint1
Donate to Ukraine and you will learn how the big dogs launder their money
Posted on 3/9/24 at 7:12 pm to xxGEAUXxx
I knew of a situation where a guy bought a strip mall. He needed tenets. So he started a non profit thrift store and had people donate stuff. I’ll let him you guess where the store was located.
Seemed like a smart plan. You could probably even have a family member draw 100k salary to run the store (though I don’t know if he did that).
Seemed like a smart plan. You could probably even have a family member draw 100k salary to run the store (though I don’t know if he did that).
This post was edited on 3/9/24 at 7:13 pm
Posted on 3/11/24 at 7:56 am to GeauxTigers123
The most successful non-profit organizations have great alignment between their missions and passionate, committed donors. Those that don’t will struggle to secure enough resources to cover their overhead and infrastructure. Overhead is the most challenging dollars to generate but critical to sustainablilty.
About 80% of charitable dollars come from individuals, with religious donations the most significant sector. Corporate donations make up the majority of the other 20%, and can be difficult if there aren’t parallels to brands or corporate social responsibility (CSR) goals.
About 80% of charitable dollars come from individuals, with religious donations the most significant sector. Corporate donations make up the majority of the other 20%, and can be difficult if there aren’t parallels to brands or corporate social responsibility (CSR) goals.
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