501(c)-What?

You may or may not have heard of the term “501(c)(3),” but it is an important term when it comes to charitable giving.  According to the IRS tax code, an organization with 501(c)(3) status is tax-exempt, which means donations to the organization can be taken as a deduction when it comes time for you to complete your annual tax return.  Pretty straightforward, right? Wrong.

There are over 25 different codes under the 501 IRS tax classification umbrella. And, each one means something different for both the organization and the person that is supporting that entity.

Here’s what you need to know before you make your next donation:

Starting a Nonprofit: More Than Just a Mission Statement

“I’m going to start a nonprofit.” 

It’s a simple statement, but there’s a significant amount of weight (and work!) behind those words. It isn’t as easy as being passionate about a cause, creating a catchy name, and designing the perfect website. We often forget that nonprofits are essentially businesses. And, a business requires funding and an innovative long-term plan to be able to sustain itself.

Sustaining Gifts: The Benefits for You and Your Favorite Charity

If you’re a public radio listener, you've likely been asked to support your local station on a recurring basis. And, you’ve probably received an email (or two) from your favorite charity asking you to deepen your commitment by turning your annual gift into a monthly one. This concept of automatically donating on a monthly basis is considered sustaining giving - think sustainable support.

Do you feel like there’s a growing movement among the charities hitting your inbox and airwaves to encourage monthly giving? You’re not wrong. Over the last few years, charities have embraced the value and benefits of sustaining gifts and vocalized it to their supporters.

Here’s why you should consider “making it monthly” the next time you’re asked:

Millennials & Nonprofits: Why It Must Work

Millennials are often criticized for being a generation consumed by the internet, and stereotyped as self-entitled, phone-addicted zombies. However, that narrow depiction fails to address the fact that despite increasing student debt, a higher cost of living, and somewhat limited job opportunities, we still place a value on making a lasting impact on our communities and the world at large, especially when it comes to social issues and injustice.

While older generations may call it “evil,” the internet has allowed millennials around the globe to engage in an unprecedented level of activism, regardless of their location and other extenuating circumstances, like education or financial means. Today, advocating or fundraising for a cause only takes a couple of clicks, and that influence cannot, and should not, be ignored.