http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/ Social Media and Operations advice for Non-Profits Tue, 07 Jul 2009 00:30:36 +0000 http://wordpress.com/ hourly 1 http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/#comment-42 Angus Parker Tue, 07 Jul 2009 00:30:36 +0000 http://savvynonprofit.org/?p=29#comment-42 If you are trying to raise a small sum like $3,500 I would recommend that you use an existing non-profit as a sponsor. If this ministry is connected to a church that would probably be the best place to funnel the money through. They may take a small percentage fee to manage the transaction. If you are trying to raise a small sum like $3,500 I would recommend that you use an existing non-profit as a sponsor. If this ministry is connected to a church that would probably be the best place to funnel the money through. They may take a small percentage fee to manage the transaction.

]]> http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/#comment-41 veronica Thu, 02 Jul 2009 19:33:15 +0000 http://savvynonprofit.org/?p=29#comment-41 Ok, Im lost, I am trying to raise money for my brother to go on a ministry trip to Columbo, Sri Lanka....$3500.00 tops? do I still have to go thru all this? Ok, Im lost, I am trying to raise money for my brother to go on a ministry trip to Columbo, Sri Lanka….$3500.00 tops? do I still have to go thru all this?

]]> http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/#comment-6 Angus Parker Sat, 17 Jan 2009 05:33:25 +0000 http://savvynonprofit.org/?p=29#comment-6 Good point. The real question is what is the break even point between the fiscal sponsorship fees and the cost of running an NGO. $1M in revenues is probably when it starts to make sense to run the numbers as you can probably afford a part time book keeper and some administrative support. Besides the governance benefits, having your own non-profit board can be a real driver for fundraising and for making smarter programmatic decisions - advisory councils of fiscally sponsored projects don't always generate the same level of commitment. The new 990 form (yearly IRS filing for non-profits) is apparently four times more complex to complete than the old one that was retired this year. I can imagine the extra paperwork may also push a few existing non-profits into fiscal sponsorship arrangements. Good point. The real question is what is the break even point between the fiscal sponsorship fees and the cost of running an NGO. $1M in revenues is probably when it starts to make sense to run the numbers as you can probably afford a part time book keeper and some administrative support. Besides the governance benefits, having your own non-profit board can be a real driver for fundraising and for making smarter programmatic decisions – advisory councils of fiscally sponsored projects don’t always generate the same level of commitment. The new 990 form (yearly IRS filing for non-profits) is apparently four times more complex to complete than the old one that was retired this year. I can imagine the extra paperwork may also push a few existing non-profits into fiscal sponsorship arrangements.

]]> http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/#comment-5 Stephanie McAuliffe Sat, 17 Jan 2009 05:06:54 +0000 http://savvynonprofit.org/?p=29#comment-5 Hi Angus, I am wondering if leaving fiscal sponsorhip when a project gets over $1 million or is no longer an experiment makes sense. Wouldn't the benefit of not having to deal with all the infrasture challenges be well worth the overhead charged, for much longer? Hi Angus, I am wondering if leaving fiscal sponsorhip when a project gets over $1 million or is no longer an experiment makes sense. Wouldn’t the benefit of not having to deal with all the infrasture challenges be well worth the overhead charged, for much longer?

]]> http://savvynonprofit.org/2009/01/14/should-i-form-a-501c3-non-profit-for-my-project/#comment-4 Peggy Wed, 14 Jan 2009 18:42:24 +0000 http://savvynonprofit.org/?p=29#comment-4 Thank you for writing about this, this is excellent Thank you for writing about this, this is excellent

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