Posts Categorized: Nonprofits

What is the Difference Between a Public Charity and a Private Foundation?

In the nonprofit sector, the words “charity” and “foundation” often are used interchangeably. However, underlying these terms is a legal concept critical to most 501(c)(3) tax-exempt organizations. Each 501(c)(3) is classified by the IRS as either a “public charity” or a “private foundation.” This classification has significant implications for the organization as it impacts the …

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Year-End Charitable Contribution Tax Deduction Options

It’s time to think about year-end charitable contributions. For 2021, there are a plethora of enticing incentives for donors looking for a tax deduction for their donations. 100% Deductibility 2021 is the last year that cash donations to public charities (other than donor advised funds) will be deductible in amounts up to 100% of the …

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Nonprofit Mergers

Nonprofit organizations may find themselves engaging in mergers or other business combinations in the same way as for-profit businesses. The reasons vary, including advancing strategic alliances, efficiency of operations, expanding services, and protecting assets. Whereas a merger traditionally is thought of a marriage of two or more entities, the merger may take many forms including …

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The Law Firm for Non-Profits Celebrates 25th Anniversary

August 3, 2021 Posted by Casey Summar in News, Nonprofits

It started as a one-person operation intent on “helping good people do good things.” Today, a seven-person team helps guide the increasingly important work of The Law Firm for Non-Profits (LFNP), which this year proudly celebrates its 25th year anniversary. Established as a solo practice by Arthur Rieman in Los Angeles in August 1996, LFNP …

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Is Fiscal Sponsorship Right for You?

Many individuals looking to develop a charitable program assume that they need to create a nonprofit organization to solicit tax-deductible contributions. While establishing a nonprofit is often the best course of action, for many there is another way – fiscal sponsorship. Fiscal sponsorship is a partnership with a 501(c)3 tax-exempt organization – the fiscal sponsor …

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At What Stage of the Nonprofit Lifecycle is Your Organization?

Understanding the nonprofit lifecycle is the key to identifying the transitional points that can be opportunities to expand an organization’s capacity to serve the community they set out to help.    Simply put, capacity is a nonprofit organization’s potential to effect meaningful change. Building capacity is necessary to accomplish an organization’s mission in a way …

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