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2008 DREAM Initiative Establishing A NPO

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    2008 DREAM Initiative Establishing A NPO 2008 DREAM Initiative Establishing A NPO Presentation Transcript

    • Presents Establishing a Nonprofit Organization For D.R.E.A.M. Initiative Organizational Structure Seminar State of Missouri February 12, 2008 Midwest Center for Nonprofit Leadership University of Missouri – Kansas City
    • Establishing a Nonprofit Organization Presented by: David Stallings, C.P.A., M.P.A. Senior Fellow Midwest Center for Nonprofit Leadership/UMKC, and President, Community Mediation & Consulting, Inc. [email_address] Scott Helm, Ph.D. Fellow Midwest Center for Nonprofit Leadership/UMKC, and Consultant with Community Mediation & Consulting, Inc. HelmSt@umkc.edu
    • Establishing a Nonprofit Organization
      • Course Outline
      • Attributes of Tax Exempt, Charitable Entities
      • Organization Governance and Management
      • Confirming the Community Need
      • Establishing the Charitable Message/Mission
      • Step to Establishing a NP Corporation
    • Establishing a Nonprofit Organization
      • Attributes of tax exempt, charitable entities
      • The foundation of all nonprofit entities is:
        • Public trust
        • Public accountability
      • In Exchange, the government requires or allows:
      • Directors are held legally accountable by:
        • Federal government
        • State government
        • Funders
        • Donors
        • Stakeholders (all others benefiting)
      • Tax deductible contributions and exemptions, all of which serve as a form of public or governmental subsidy
    • Establishing a Nonprofit Organization
      • Attributes of tax exempt, charitable entities (contd.)
      • Basic rules for operating a charity:
        • Establish a charitable mission, goals & strategies
        • Incorporation or other form of organization
        • Development of an independent Board of Directors
        • Create funding along with financial accountability
        • Retain staff and board leadership and oversight
        • Cultivate a corp of volunteers and supporters
    • Establishing a Nonprofit Organization
      • 10 Responsibilities of the Board of Directors
      • 1. Determine the Organization’s “Marketable” Mission and Purpose
      • 2. Select the Chief Executive Officer
      • 3. Provide proper financial oversight and public accountability
      • 4. Ensure adequate resources
      • 5. Ensure legal and ethical integrity and maintain accountability
      • 6. Ensure effective organizational planning, short and long term
      • 7. Recruit, orient, and train new board members and define and assess board effectiveness
    • Establishing a Nonprofit Organization
      • 10 Responsibilities of the Board of Directors
      • 8. Enhance the organization’s public standing
      • 9. Determine, monitor and strengthen the organization’s programs and services
      • 10. Support the Chief Executive, define their effectiveness and assess their performance annually
    • Establishing a Nonprofit Organization
      • Charitable Board Design:
      • The charity as a cause or necessary funding partner
      • Board member representation and public interest vs. self interest
      • Community, Governmental or Elected Officials
      • Everything the Board does either confirms or refutes the “charitable” need.
      • Identify the charitable partners, however, the board should represent the broader community.
      • Populist/charitable boards vs. quasi-governmental boards (who do we look like we are trying to serve?)
    • Establishing a Nonprofit Organization
      • Confirming the Community Need:
      • Making the Charitable Case
      • If you are seeking grassroots, charitable donations, you must build the case for public benefits. And everything we say and do must be grassroots oriented.
      • If you are seeking primarily governmental funding, we risk undermining grassroots, charitable funding, and being perceived as an extension of the local chamber, the city government and local business interests.
      • Our true charitable intentions are expressed with every act of the board and staff of the agency.
    • Establishing a Nonprofit Organization
      • Starting Point of Confirming the Need
        • Environmental scans
        • Market research
        • Collecting third-party, independent data
        • Going beyond passion and self-interest
    • Establishing a Nonprofit Organization
      • Steps to Incorporating
      • a Nonprofit Organization
    • Establishing a Nonprofit Organization
      • Why Incorporate ?
        • Limited liability
        • Board and Volunteer immunity & indemnification
        • Adequate capital to protect the public
        • Insurance coverage
    • Establishing a Nonprofit Organization
      • I.R.S. Life Cycle of a Public Charity
        • Starting Out
        • Applying to IRS
        • Annual Filings
        • Ongoing Compliance
        • Significant Events
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Form a corporation under state law
      • Apply for a federal E.I.N.
      • Apply for & obtain federal tax exempt status
      • Maintain organization’s charitable purpose and organizational attributes
      • Plan for the Life Cycles of the organization
      • Dissolution of corporation
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Forming a corporation under state law
        • NP purpose under 355.025
        • Not owned – no stockholders
        • At dissolution assets go to another NP
        • Public v. mutual benefit
        • Membership v. non-membership
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Pro forma formation
      • Secretary of State filing
        • Incorporator
        • Three board members
      • Adopt & file articles of incorporation
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • IRS filings
      • Obtain federal EIN
      • Apply for tax exempt status with Form 1023
        • Automatically exempt organizations
        • The 15 months rule
        • Narrative of proposed activities
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Form 1023 cont’d
        • Directors, officers & trustees
        • The 5 highest paid employees & contractors
        • Target population
        • Additional disclosures
        • Forecasted Budget
        • Public charity v. private foundation
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Complete Missouri Forms
        • State & Local tax exemptions for
          • Sales taxes
          • Property taxes
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Maintaining the Tax Exempt, Charitable Corporation
        • Filing requirements
        • Public records maintained
        • Internal records
        • Dissolution planning
    • Establishing a Nonprofit Organization
      • Steps to Establishing a Nonprofit Org
      • Helpful Resources on the internet:
        • IRS.gov
        • Sos.mo.gov
        • Dor.mo.gov
        • Guidestar.org
        • Mcnl.org
    • Establishing a Nonprofit Organization
      • Summary: Topics We Covered
      • Attributes of Tax Exempt, Charitable Entities
      • Organization Governance and Management
      • Confirming the Community Need
      • Establishing the Charitable Message/Mission
      • Step to Establishing a NP Corporation
    • Establishing a Nonprofit Organization Questions?
    • Establishing a Nonprofit Organization Presented by: David Stallings, C.P.A., M.P.A. Senior Fellow Midwest Center for Nonprofit Leadership/UMKC, and President, Community Mediation & Consulting, Inc. [email_address] Scott Helm, Ph.D. Fellow Midwest Center for Nonprofit Leadership/UMKC, and Consultant with Community Mediation & Consulting, Inc. HelmSt@umkc.edu