Blog Posts

Avoid Liability when Raising Money for Your Nonprofit The first significant donation I received for my nonprofit was a $3,000 check from a gentleman I did not know. He was moved by our story and the work we were doing for students. Social media makes it easier than ever to get the word out about…

The 3 Types of Financial Statements There are three primary types of financial statements: an income statement, a balance sheet, and a statement of cash flows. Each of these statements is incredibly important to have for your nonprofit and can benefit your organization. Here is a brief overview of the three types of financial statements.…

Keep Legal Records that Meet IRS Standards There are several key documents that you want to have accessible at all times as it relates to your nonprofit. These documents are the foundation of good record-keeping as it relates to running a nonprofit. Here are 9 of the legal records that you need to keep to…

Why You Shouldn’t Have Multiple Nonprofits Within an Umbrella Nonprofit Having multiple nonprofits under an umbrella nonprofit may seem like a good idea. This is because the parent organization, or the umbrella, may provide resources to the smaller organizations. Many people ask if they could have multiple nonprofits under an umbrella nonprofit. Let me answer…

18 Ways to Overcome a Trademark Application Refusal The Trademark Application Process Many people mistakenly think that the application process is complete after you submit your trademark application. This could not be farther from the truth! Instead, one of the most important parts of the application process begins after you have submitted your application. This is the part where…

3 Things You Need to Start Your Own Nonprofit If you are thinking about starting your own 501c3 nonprofit, there are several things that you should consider before deciding to move forward – but they may not be what you think they are. Over the years, Chisholm Law Firm has had the pleasure of advising clients throughout the…

Should You Incorporate Your Nonprofit? Incorporating a nonprofit is the process of filing the appropriate paperwork with your state to formally create your nonprofit as its own legal entity. Incorporating allows your nonprofit to be legally seen as an entity that is separate from you. This is a good thing because it means that in most instances the…

Nonprofit 101: What Is a Nonprofit? Before you take the dive into starting your own nonprofit, there are some important things you need to understand. The world of nonprofits is quite different from that of a typical for-profit business. As the experts on all things nonprofit, we’re here to help guide you through the process and make sure you are on…

6 Reasons Why You Should Start a Nonprofit Most people start a nonprofit because they genuinely want to give back and help make a difference in the lives of others. But many people that start nonprofits don’t realize the ways starting a 501c3 nonprofit could benefit them personally. It’s important to understand these personal benefits upfront because they will help keep…

9 Myths About Starting a Nonprofit So you’re thinking of starting a nonprofit, but you might have been told a few things that make you uncomfortable taking the leap. There’s a lot of misinformation out there so we want to share with you the truth about starting a nonprofit. Here are nine of the most common…

How Much Does It Cost To Start Your Own Nonprofit? If you are thinking about starting a nonprofit, you likely have lots of questions. One question we get a lot from our clients is “How much does it actually cost to start my own nonprofit?” The truth is, the cost of starting a nonprofit depends on…

What Should I Look for When Hiring Someone to Start My Nonprofit? Hiring someone to help you start and grow your nonprofit is a big decision and one you shouldn’t make lightly. If you’re thinking about hiring a nonprofit attorney, there are a few things you should look for to make sure you are making…