| #facts | #boardtalk | #rules | #needtoknow |
|---|---|---|---|
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What is the most common tax status designation for a nonprofit organization?
501(c)3
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What is a nonprofit’s version of a social security number?
FEIN: Federal Employer Identification Number.
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Is it legal to pay nonprofit board members to be on boards?
Yes, if permissible by state by-laws, but only 2% of nonprofits do this.
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What’s the difference between restricted donations and other donations?
Donors sometimes indicate exactly how money should be spent and by when.
A nonprofit may have to pay a donor back if all restrictions are not met. |
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How many nonprofits are in the United States?
Over one million.
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Can nonprofits form political action committees (PACS)?
Yes, but not most. 501(c)3 nonprofits cannot participate in partisan activities.
Other nonprofits such as 501(c)4s or 501(c)6s can. But, donations made to these groups are not tax-deductible. |
What is the difference between a board of governors, a board of directors, and a board
of trustees?
They are all the same.
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What are sunshine laws?
These are state laws that require boards to sometimes open board meetings
to any public person. |
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Are nonprofits allowed to sell products?
Yes – note Girl Scout Cookies, Consulting Services, Theatre Tickets
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What is a common way that tie votes are broken on boards?
The Board Chairs abstains if the board has an even number of people or takes
sides if there are an odd number of people. |
If staff members of a nonprofit are present at board meetings, do they vote?
No. Only board members vote during board meetings.
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Does the founder of a nonprofit own that nonprofit?
No. No single person owns a nonprofit. Therefore it is in the founder’s best
interest to have a good relationship with the board and to even join the board. |
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What document must nonprofits file to reserve their names?
Articles of Incorporation
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What percentage of nonprofits requires board members to donate to the organization?
55%.
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What are intermediate sanctions?
Taxes levied by the IRS on nonprofits who make decisions that financially
benefit those in positions of influence in a nonprofit. |
What are the 6 core values of Public Allies
6 Core Values
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