5 things people don't tell you about 501c3 status

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  • เผยแพร่เมื่อ 24 ธ.ค. 2024

ความคิดเห็น • 33

  • @DangerAware
    @DangerAware 2 ปีที่แล้ว +9

    Thank you, you are very well spoken and easy to listen to. We need money! 15 months in and no real funding outside of the founders.

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +2

      Thank you for watching! How much money do you need to raise?

    • @DangerAware
      @DangerAware 2 ปีที่แล้ว

      @@BossonaBudget All of it!!! LOL! But seriously, we started this April 2021, in November we lost our Donation Coordinator to covid (she was also my sister), five days later we got our 501c3. We hired a replacement DC in March, who quit in June due to family issues, so we are again without expertise. We have hired two secretaries who are doing what they can, but we don't have anyone dedicated to raising money at the moment, nor anyone who KNOWS how to raise money. The founders have put over $150,000 into the company so far, but we need help. We have applied for a loan, but still waiting to hear, any day now! I just paid for a list of 15 grants to apply for, and we are putting out money collection boxes as a test. And we take consumable donations and sell them every Tuesday as a means to raise money. We have run some radio spots, and handing out cards and postcards with our info. We are canvasing the neighborhood businesses and asking for help. We just launched our Contests App for kids to enter coloring, poster making, essay writing, and video making contests, for children from 3 to 18. We are producing cartoons and games and pencils and posters, and books, etc. etc. We have a dozen different projects going and the only thing keeping us from doing more is having more people, but for more people, we need more money. My oldest sister, the Founder and CEO is 75, and sold two homes to get the money to buy a permanent home for our organization, and she has rented us the property at 50% going rate for 20 years with 20 year option with 3 year cost of living increases in rent and first option to buy. So we have a lot and we have a lot going but we are running out of money.

    • @DangerAware
      @DangerAware 2 ปีที่แล้ว +3

      @@chawanneburn5996 ??

    • @DangerAware
      @DangerAware 2 ปีที่แล้ว +1

      @@BossonaBudget We interviewed a professional grant writer who seems very knowledgeable and wants 10% of the Grant Amount we are applying for. Is this normal?

    • @chawanneburn5996
      @chawanneburn5996 2 ปีที่แล้ว

      @@DangerAware Those are SBA helpline cell phone number, put the cell number together respectively and contact SBA helpline customer service for grants assistance if you need help

  • @monicarust2383
    @monicarust2383 2 ปีที่แล้ว +3

    Thank you, great information!

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      Thank you for watching!

    • @chawanneburn5996
      @chawanneburn5996 2 ปีที่แล้ว

      Are you able to secure your grants giveaway application funding yet??

  • @jasminelewis2164
    @jasminelewis2164 ปีที่แล้ว +1

    This was amazing, definitely subscribed. When is the next master class?

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi, I don’t plan to do any live masterclasses soon. Right now i do free challenges in my group: facebook.com/groups/moneyonamission

  • @Virgokizzy
    @Virgokizzy 6 หลายเดือนก่อน

    Ready to start

  • @lawrencehawkins7198
    @lawrencehawkins7198 2 หลายเดือนก่อน

    Gratitude.

  • @wkinne1
    @wkinne1 11 หลายเดือนก่อน +2

    If I start a Nonprofit that will eventually make a lot of money, which I want to go towards the ever expansion of the purpose of the Nonprofit, how to I protect it from rough board members changing this? This Nonprofit would be under "Scientific". I am turning 67 years old next month so I only have maybe 20 good years left if I'm lucky, and would want this Nonprofit to continue after I'm gone and never lose it's prepose. So I guess my question is how to ensure my dream not be highjacked after my death.

    • @BossonaBudget
      @BossonaBudget  10 หลายเดือนก่อน +2

      Hi, you can’t guarantee anything really, but I would be very clear in your bylaws, your values, or any other structural foundational documents of the organization about your wishes around the organization’s focus, and/or culture. The more you embed your values and your purpose in your everyday work, the greater likelihood it will stick.

  • @LAStreetPreacher
    @LAStreetPreacher 3 หลายเดือนก่อน

    I just uploaded a video on "Why Are You In a 501c3 Church?" This is an important subject but few Christians will study it out.

  • @harsharao3555
    @harsharao3555 8 หลายเดือนก่อน

    Good information, watch after 7 minutes..

  • @zukichik006
    @zukichik006 ปีที่แล้ว +3

    This was very informative. Unfortunately, I now have to reshape my idea, I truly wasn’t aware about the board. I’m not a fan of ppl who aren’t family, so this will be complicated.

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว +2

      It's good to have a clear understanding in the beginning so you don't have headaches later. I'm glad it helped!

  • @JasmineIVANNAEspy
    @JasmineIVANNAEspy 2 ปีที่แล้ว +2

    How can we see the masterclass?

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +1

      Here's the startup masterclass: rebrand.ly/npstartupclass

  • @charlesansah4406
    @charlesansah4406 2 ปีที่แล้ว +1

    How many board do I need

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +1

      Your state nonprofit code will most likely set a minimum. The IRS likes to see at least 3.

  • @fakenphonenews4252
    @fakenphonenews4252 9 หลายเดือนก่อน

    Is it possible for me to have the not for profit and have the 501c3 exemption at first and then remove the exemption and take control later on? And, if so, would the donors lose their write-off?

    • @BossonaBudget
      @BossonaBudget  9 หลายเดือนก่อน +1

      What you’re describing doesn’t seem feasible. There are a lot of different factors so I can’t add much else but what it seems like you’re trying to do -doesn’t meet the purpose of a nonprofit entity

    • @fakenphonenews4252
      @fakenphonenews4252 7 หลายเดือนก่อน

      @BossonaBudget that makes sense, thank you 😊