Blog Posts

10 Ways to Preserve Your Limited Liability Protection Incorporating your nonprofit is not enough to protect you from being personally sued. You will also need to follow these rules regarding how you run your nonprofit to make sure you do not lose the limited liability protection. Limited liability protects you from being penalized as an…

What is a TEAS Application? It is crucial to register your name and logo as a trademark when you start a nonprofit. Having a trademark gives you ownership of your name and logo, allows you to make money when licensing other products, markets your nonprofit, and more. However, to get a trademark, you have to…

Protect Your Phone Number when Starting Your Nonprofit Many of the legal documents you are required to complete may require you to include a phone number for your nonprofit. Subsequent documents for your nonprofit such as bank accounts, grant applications, etc., may also need your phone number. Because so many documents require a phone number,…

The Cost of Starting a Nonprofit Many people ask how much it costs to start a nonprofit. While there are many different programs to fund a nonprofit once you get started, the startup costs will likely come from your pocket. I know this firsthand – I started my nonprofit, Revolution Leadership, with my own money.…

The Importance of a Corporate Minute Book One of the best ways to keep track of all of your nonprofit records and legal documents is to invest in a Corporate Minute Book. A Corporate Minute Book is an elegant, custom-made portfolio engraved with your nonprofit’s name. When you utilize a Corporate Minute Book, you will…

Employment Records Essential for Nonprofits Employment records are essential for both for-profit businesses and nonprofits. As your nonprofit hires people, you will want to keep accurate and complete records of their employment. Here are some examples of the documents you should keep as records of the employees and vendors of your nonprofit. Employment Agreements Essentially,…

Responsibilities of Board Members Nonprofits serve the public. Therefore, a Board of Directors is required to govern a nonprofit. Before you invite someone to serve on the Board of a nonprofit or agree to serve on a board, it’s essential to know the expectations and responsibilities of board members. Here is a summary of the…

8 Clauses for a Good Volunteer Agreement An important part of starting your 501c3 nonprofit is assembling a team of volunteers to help you execute your vision. Volunteers can be a huge benefit because they provide you with a team that can carry out projects and initiatives. However, you need a volunteer agreement to minimize…

The Amount that can be Written Off on Taxes As you talk to donors about giving to your nonprofit, you will most likely get many questions. A popular question may be the donor wanting to know precisely how much they can write off on their taxes. Here are a few general guidelines that you may…

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…