A fiscal sponsor is a nonprofit organization that provides fiduciary oversight, financial management, and other administrative services to help build the capacity of charitable projects.
In return for its favored tax-status, a 501(c)(3) charitable nonprofit, foundation, or religious organization promises the federal government that it will not engage in “political campaign activity.”
Capacity building is about a nonprofit’s ability to deliver on its mission effectively now and in the future. Capacity building is an investment in the effectiveness and sustainability of a nonprofit.
The goal of assessments is to collect data that can help a nonprofit evaluate whether or not it is making progress toward various goals and demonstrate that it is advancing its mission.
Loss of tax-exempt status can have disastrous consequences. Every nonprofit leader should be familiar with situations that put a charitable nonprofit’s tax-exemption in jeopardy.
It can be shocking and discouraging to learn that a nonprofit’s tax-exempt status has been revoked. Consider these immediate steps before rolling up your sleeves to re-apply for tax-exemption.
The goal of internal controls is to create business practices that serve as “checks and balances” on staff, board, and/or outside vendors to reduce the risk of misappropriation of funds/assets.
Boards of directors have a fiduciary duty to ensure that the assets of a charitable nonprofit are used in support of the charitable mission, and in accordance with donors’ intent.
