Should I pay myself as a nonprofit founder?
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- เผยแพร่เมื่อ 15 พ.ย. 2017
- SHOULD I PAY MYSELF AS A NONPROFIT FOUNDER?//HOW DO NONPROFIT FOUNDERS GET PAID?// In this video I share how to figure out how much you should be paid!!
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Welcome to the The Socialife! The place for entrepreneurs with a purpose to unleash their 'something' amazing! Being a social entrepreneur is so much more than what you do, it's who you are and how you live your life!
Learning to manage expectations, impact, growth, AND make a profit are the hardest aspects of the Socialife, but it can be done and my goal is to teach you how!! I started a nonprofit in 2013 under a fiscal sponsor then officially filed and became a designated non-profit in 2015! I love what I do and want to help others feel the same way! You can check out my baby here: bit.ly/Launchpad4kids
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RESOURCES & LINKS YOU NEED TO WATCH:
Watch “How to start your nonprofit in 30 days” here: • Starting A Nonprofit O...
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Watch “The 4 PHASES OF YOUR NONPROFIT JOURNEY”: • The 4 phases of your n...
I thought about starting a nonprofit organization and TH-cam suggested your channel. I am happy I found it. Thank you.
Jeremy Strickling thank you! I️ hope you move forward with starting that nonprofit! I’d love to hear more about what you’re hoping to do! I’d love to have you join us in the Socialife Tribe FB group! The place for entrepreneurs with a purpose!
Omg your so giving me life right now. Ive been working on this for a while (STRUGGLING) THANK YOU
You’re giving me life with this comment!!! Thank you so much for watching! So glad it helped!
I mean wow…just wow. U really got my attention when talking about the time it takes to recruit vendors and applicants and other factors. Thank you for making this video.
That means a lot! It does take work to get these things off the ground but so worth it!
Thank you soooo much!!! I really appreciate you being so detailed in your videos. Much success in all you do!!! Thank you!
Jermaine Manuel 1
Thank YOU for watching Jermaine! It means so much! I hope you'll join us in the Socialife tribe! I'd love to watch your journey and see you at some of my live trainings coming up!
Please make a video on how to start/run your non profit while having a full time job! 💖 Love your channel you're awesome.
Great channel, thank you for all this advice! I'm in the very beginning of my non profit journey and you have helped tremendously!
Love it!!! Thank you Tracey! I hope you’ll come join us in the Socialife Tribe on FB so we can all follow your journey! I’d love to connect and learn more about what you do!
Thank you for the info! A question that is always looming over my head as I begin this social entrepreneural journey.
It was one of my major questions too when I was starting out! So glad it helped you! Thank you so much for watching!
I love your videos! I am trying to watch them all and get caught up. I'm in the beginning stages of starting my non-profit!!
Awesome!!!! Definitely watch the start your nonprofit in 30 days video! It explains the course AND come join us in our FB Socialife Tribe!
Also! Thanks so much for watching!
Thank you for all the helpful and informative information. I always leave your videos with a sense of empowerment!!
Brian, I am so happy to hear this! Sometimes it can be a real struggle to know exactly what would be helpful so I truly appreciate the feedback! Please let me know if there is something you'd like me to make a video on! By the way I saw your email and will definitely get back to you!
Thank you very much!From your videos,I got more than I expected...🤗
Awe that makes me so happy! Thank you!!!
i have so much to learn from you. thank you for your time and energy.
Great video yet again! Thank you so much! These are the best videos I've found on foundation startup!
Melissa That means so much to me thank you! Please let me know if there is something specific you’d like to know!
Thank you so much, Ashlee
New subscriber. The information was very helpful. Thank you for sharing.
So glad to know!!!! Thank YOU for watching!
Your videos are wonderful! These Re things I’ve been wondering for awhile
A D thank you so much for watching!!!
Definitely helpful! Thank you :)
So glad! Thanks for taking the time to watch AND to comment!!
This is very much helpful Thank you 😊
please keep up the good work! you inspire me!
MyKeturah that means more than you know! Thanks so much! I️ can’t wait to see what you will unleash!
Of course you can pay yourself! We done bought a new house
Thank You!!
Thanks for the advice
Thank YOU for watching!!! Please let me know if there is something else you'd like to know!
Great content thanks!
Thank you so much for watching!
Thank You
yes!
Good stuff, I like the way your brain thinks, :)
Appreciate that!
thank you
Thank YOU for watching!
You’re very knowledgeable
Thanks so much!
This has been what has prevented me from starting up. I am contradicted about paying myself. Correct me if I’m wrong, but ultimately, the only way someone could get into “trouble” with paying themselves would be if someone were to file a FOIA request, correct? I know NFP’s financial records are supposed to be made public, but most of the ones where I live aren’t easy to track down.
Honestly Justin, the only way I think you can get in trouble is by NOT being transparent with your supporters. People understand that founders need to be paid or someone has to be paid to run the nonprofit. With that being said there are checks and balances that need to done prior to that happening...you need to benchmark your position and salary to industry standard, your board must approve AND you need to have the ability to still show results and proof of services in your NP. I hope this helps and thank you for such a great question! I’d love it if you’d join us in the Socialife Tribe! You can sign up at ashleetate.com and join a group entrepreneurs just like you! Hope to see you there! That’s where I go live and share more tips!
How do I get a board? I don't have any family members who believe in what I am doing.
it is still extremely vague and it feels like there is no good answer for the questions of " how much/what % of funds taken in is reasonable compensation for services" the type of non profit I am starting is very small, unique and will have very little overhead, no brick and mortar office and no "employees".
💯💯
A founder is the one who spawned the idea correct..it began with them..they should get a percentage aver bench mark...or at least have finally decision over the board
Unfortunately that’s just not how it works. A nonprofit must be governed by more than the founder in order to keep the trust of donors.
I reject the idea that you should set your prices at the typical pay for somebody with your duties. You should set it at the value you provide to the organization and what you believe you are worth.
Agreed! For many though this is a place to start and share with their board!
I agree. The Market determination of value of labor grossly undervalues that labor for the benefit of non-union (no way in salary vs need level). If any current benchmark were remotely accurate, there wouldn't be such massive disparity between workers and CEOs.
Hello,
I am stating a nonprofit.
How do I legally create my role so that I can be compensated?
I am doing everything by myself so far.
I do have a secretary though. However, I believe that I can hold 2 roles initially:
President and Secretary but never treasurer.
Can I also be a paid director and president?
With no voting on items involving my compensation?
Please clarify.
Thank you.
I am still shopping for board members.
Once you create your bylaws and add the founding directors, you would list yourself as one. Once the board approves, you all will discuss compensation and come to an agreement on a reasonable compensation. The board of directors minus you will vote on this amount and approve it. That’s generally how it works
Usually at month how much are you expenses for the nonprofit like accounting.. rent?... and any ideas to form the board... no blood or marriage related. Thank you
Hi there! I have an entire course all about getting started that walk you through every step of the 501c3 process! We also have a group that you can join to ask questions and get feedback! Go to Ashleetate.com to get your invite!
Nonprofit organization owner any benefits?
Before you even give your answer... YES PAY YOURSELF!!!!!
That’s right!!!
Hey. Can I get the link for the video to know when it’s time to turn your side hustle into something official and amazing? Thank you
Of course! Tips to manage your side hustle while working full time | Only 3-4 hours
th-cam.com/video/Q0PM7iNnIYE/w-d-xo.html
Hi I have a question I am going over the website for Texas and nonprofit organizations, i’m really not clear . What is the difference between nonprofit corporations, and unincorporated nonprofit association. With the intentions of being paid
Unincorporated are not recognized by the IRS. You want to be a full fledged nonprofit organization to start getting paid in order for people to get tax exemptions
Thank you, that help me a lot
Hi do you know the verbiage to use in the bylaws regarding the founder that is also the executive director to have more power in voting?
I wouldn’t recommend having something like that in your bylaws and haven’t heard of this as common practice. Everyone has an equal vote. I would recommend speaking to a lawyer to draft something like this! If you’d like more help on your journey, come join us in the tribe! Grab your invitation at Ashleetate.com or click the link in my insta profile @thesocialifediaries
@@Ashlee_Tate Ok, it's supposed to be a protection clause to prevent the founder getting voted off the board.
Hi there. If I have a board of 5 including myself , the non profit is my idea and really my 'baby' , when it comes time where someone is able to be employed and paid how is it decided who gets that? Also is there a way in which one person can have major control? thankyou!
I will have a video out for you in a couple of weeks to answer this one! Great question!
@@Ashlee_Tate Wonderful thanks!!
That she be defined in you bylaws
@@Ashlee_Tate Hello, whats the title of the video please?
@@Ashlee_Tate what's the name of the video?
Tenant rights are being annihilated in WI...This is my passion...how would I get funding for this?
There are a number of different fee for service options, fundraisers, grants, sponsorships, partnerships and so on that could help you get funding. It just depends on how you set up your strategy. Come join us in the tribe! Grab your invite at Ashleetate.com
Not sure if this is appropriate to ask or better to ask for a lawyer:
I am the Director of a Community Band and several other groups which is in the process of becoming a 501c3. Currently, our bands are under the umbrella of the Town in which we are based. They do not provide 501c3 status. They only provide rehearsal space, a budget for music and my Director's stipend (bi-weekly).
When our Band organization gains 501c3 status, would it then be required (by law) that those monies for the stipend and music now have to first go through the 501c3?
Or, can (or even should) our current arrangement remain? (That is, receiving the stipend and money for music directly from the Town-our sponsor).
Keep in mind, I have plans for us to expand further to more sponsors and affiliates over the upcoming 5-10 years.
Thank you so much for any help you can provide!
You can definitely confirm with a lawyer but I would recommend passing all funds through your NP to keep it cleaned organized and and accountable.
How much should I pay myself as a nonprofit founder?
Peace😍
Can I get reimbursed for multiple yrs of service as founder? We just received a large endowment.
I would say likely not, if you wanted to attempt it, you’d have to ask your board. I would focus on moving forward and obtaining a salary rather than going retroactive.
Heya. I want to ask for clarification. So there is a board of directors, members, volunteers, and then there are also employees. Right? Can you elaborate on that? Members have voting rights, right? Volunteers don't and you don't pay them (of course you can if you want/have enough money).
Organizations really only have members if you set up your organization that way. But yes all the rest are correct. Does that answer the question? Come join us in the tribe! Grab your free invitation at Ashleetate.com if you’re ready to start your organization, I have a course that walks you from start to finish via videos, tutorials, templates and a group to answer your questions along the way.
You can find out more at Ashleetate.com
@@Ashlee_Tate Okay, thanks :) I'll check it.
🌞🌞🌞🌞
I want to take social entrepreneurship for my master degree.any recommendation about universities that teach it well?
You might want to consider learning business and nonprofit management because one thing people forget is that social entrepreneurship is just a business with purpose. I don’t have an exact school but I know there are colleges with these new types of degrees popping up. A little research into curriculum and I know you’ll find what you want!!
The Socialife Diaries Got it!thank youuu❤️
Do board members ever get paid?
Completely up to the nonprofit but generally this is reserved for large nonprofit or for profit companies like banks. It's very rare
Non profit organization president get salary?
Yes if you and your board agree on terms.
The Socialife Diaries thank you very much
The government pay nonprofit founders full salary most of the time.
If you register you nonprofit but not guaranteed.
Do you have to have a board? 3 members? Pay yourself? How much ?
You need to have at least 3 board members, I always recommend 5 including yourself. Think of your nonprofit to start as a side hustle at first. Once you start bringing income in above expenses and you are able to accomplish the mission then you can consider paying yourself, which is then decided by the board regarding how much!
Ashlee Launches Thank you you're very easy to understand.
Do you have a email address I can send a question to?
Hey there BritJas, sign up for The Socialife with this link bit.ly/2hiVn3a, my email series with a link to our insiders group and just hit reply so we can start the conversation! Does that work?
BritJas mc fbdfggbgbbbfbgn
IRS says that founders can't get paid... how is this so?
Not sure where you read that but most founders of nonprofits are paid...for smaller nonprofits it can be tough to add to this portion in before completing your mission. Can you explain a bit more?
@@Ashlee_Tate I just googled it and the first thing that pops up reads "The founders of a nonprofit are not permitted to make a profit or benefit from the net earnings of the organization. They can make money in various other ways, however, including receiving compensation from thenonprofit."
That's just confusing
I understand! Yes, if you are a founder that is not designated as a staff member say ‘executive director’ but staff does get paid. Hope that helps clarify.
@@Ashlee_Tate ok to kind of piggy back off of y'all conversation... If I am the founder of the non profit, but I hold a position in the everyday workings of the non profit do I get paid. Also it's says we get compensated... Can you explain how. Or maybe send me a link where I can read up on it myself, thank you
Sorry for the inconvenience
Hi Trizzy! Absolutely, if you are staff in the nonprofit you are allowed to be paid. If you are the founder and part of the everyday workings, you would likely be the executive director. You and your board would decide a reasonable salary. Generally staff is paid after expenses for the programs to run are paid. Just like a for profit would run.
"Social Entrepreneur".... HAHAHAHAHAHA!
you should not pay yourself for a non profit then you are profiting so it is not a NON profit... you are profiting
Hi Tonix X, this is a very common misconception. Every nonprofit generally runs off of staff and they have to be paid. This is where the administration and operations budget comes in. Non profit just means that you are a tax exempt organization but you must always think of it like a business! Hope that helps!
Tonix X
You're wrong. That's just what many people think. You'll find groups that are PRO nonprofit and ANTI forprofit, and they think forprofit companies are evil somehow. They just don't understand the difference. You should really study up on it. Generally the ones that are PRO nonprofit are also pro taxes, which doesn't make sense because non profit 501c3 companies don't pay taxes.. The forprofit companies that they hate DO pay taxes.
As far as getting paid, the easiest way to see it is, a nonprofit pays out everything in expenses. Salaries are an expense and can be a part of that, if its gotten to the point it can afford that additional expense. The "nonprofit" part is meaning the "company" is nonprofit. The workers can get paid. Nonprofit corporations have salaried employees as well as volunteers sometimes. A forprofit corporation basically just means the company itself can legally make and SAVE MONEY over the amount it pays out in expenses. Some forprofit companies don't make enough to pay the operating costs AND then pay a salary to the owner. But that doesn't automatically make it a nonprofit. That just means the business is going to go out of business soon because its not making enough money. This is really over simplified... There's a lot more details you will need to find out for yourself.
when I was younger i want to work in a place to make a difference and went to work for a non-profit (i get paid so I profit for it), the thing is if i do not get paid i would not eat, pay rent and sustain my family. I know where this is coming from and will agreed some people abuse the system, but that happen to in the for profit