Posts tagged ‘nonprofit’

Filing 501c3 Now Made Easier


There might finally be some relief in the backlog of 60,000+ applications the IRS has on hold as they attempt to review and process new applications for tax- exempt status under Section 501(c)3 codes. Their site indicates they are just processing applications submitted in October 2013 – a 9 month gap in a process that should take 6 to 8 weeks.


In a July 1,2014 Internal Revenue Service press release they introduced a new, shorter application form, Form 1023-EZ, to help small charities apply for 501(c)(3) tax-exempt status more easily. Most organizations with annual gross receipts of $50,000 or less and assets of $250,000 or less are eligible.

Over 4 years ago IRS indicated on their website that a new online application process was to be released soon. Then that announcement disappeared until now. The change will allow the IRS to speed the approval process for smaller groups and free up resources to review applications from larger, more complex organizations while reducing the application backlog.

None of the basic eligibility requirements have been altered and the instructions include an eligibility checklist that organizations must complete before filing the form. What has changed is the former option of filing as an organization with less than $10,000 gross earning and completing a 26-page application form. Now would-be nonprofits with gross revenue of $50,000 or less and assets of $250,000 or less are now eligible to file a three-page online application.

Some nonprofits, such as hospitals, colleges, and universities, would not be eligible to use the new form, but the IRS predicts, about 70 percent of new applicants,  will be eligible for the short form.

What Does This Mean?

Even though an easier process has been launched, individuals should still first assess whether or not a new organization is needed.  Does an organization already exist that serves your passion, can you devote time and resources to support them? There are thousands of organizations in competition for similar funding resources and it is hard work.

However if creating a new one is the best solution, to move forward understand the process of starting an organization, and more important what it takes to run and create one that is sustainable for the long term. Are you knowledgeable and prepared for the actual cost to launch a solid organizational foundation? Is there a support system in place and consistently developing?

Great News! There is help available!

Make your passion a reality. Fortunately you do not have to embark on this process alone. For more information and/or support to launch your nonprofit, Dr. Victoria Boyd can assemble and submit all of the required documentation . Plus guide you through the process of setting up operational systems, website launch, program development, funding strategies, board development, and much more. At get your free copy of 10 Tips for Effective Nonprofit Management.

Dr. Victoria Boyd has worked in the nonprofit sector for over 35 years internally and externally. Currently an instructor Nonprofit Management at UNLV, she also launched The Philantrepreneur which offers a digital journal, radio show and interactive website.

GALAXY GroupThe Philantrepreneur



What’s Next?

“What’s next?” These two powerful little words ask a big question.  A question we have all asked some time in our life. We all want to know…. and we need to get it right. A lot hangs on the question and the answer. So what is your What’s next? Do you know how to respond?

For me the question, “What’s next?” seems to be popping up everywhere. Maybe because I use it as a key question in my book The Wealthy Teacher, or when helping nonprofits, or frankly it is a question I am also asking myself. You know how the subconscious works. For example, you decide to buy a car and like a miracle, don’t you see that car everywhere you turn. Everyone has it – your car. Your subconscious has been put on high alert. I am on high alert for “What’s next?”

The question has significance and I should have recognized sooner that I was in the ‘What’s next?” business my entire education career. Students constantly ask, “What’s next?” However, thinking I had transitioned out of that mindset, the significance diminished. But whoa! It’s back and it’s back strong. I help two separate sectors answer their What’s next? I am still in the “What’s next?” business.


Educators facing change, threatened with layoff, frustrated or realizing that an education career may not be for you. You are asking, What’s next?  Join the dialogue.

Nonprofits – Do you want to start a nonprofit? Are you a nonprofit needing assistance to create a strong foundation? So you are asking “What’s next?”


Entrepreneur – Are you?

The Business Dictionary defines an entrepreneur as someone who exercises initiative by organizing a venture to take benefit of  an opportunity and, as the decision maker decides what, how, and how much of a good or service will be produced….  OK, the definition is straight forward and speaks to ‘what’ they do and boring….  now let’s discuss –  Who are they?

Entrepreneurialism is not a new concept however it has gained momentum and more and more people are willing to take on the risks associated with being an entrepreneur. According to economist  Joseph Alois Schumpeter (1883-1950), his lifespan highlights how far back the concept emerges – entrepreneurs are not necessarily motivated  by profit but regard it as a standard for measuring achievement or success.  Schumpeter discovered four traits that seem to be prevalent and speak to their values. They include:

  1. greatly value self-reliance,
  2. strive for distinction through excellence,
  3. are highly  optimistic (otherwise nothing would be undertaken),
  4. always favor  challenges of medium risk (neither  too easy, nor ruinous).i am an entrepreneur

Boy, that could describe a lot of us… and we haven’t necessarily labeled ourselves as an entrepreneur. These traits cover a wide spectrum and changing the perspective could shed a new light on how you perceive who you and the game plan.

For example….

Look at the nonprofit sector. Founders and those that lead NPO’s have a passion, believe in self-reliance, strive to make a difference, are highly optimistic and have accepted a challenge. Ummm….  all the characteristics of entrepreneurs… but in a different context.

The entrepreneurial spirit is alive and well in most of us. We just haven’t put it into the right context. Why not maximize its effectiveness and use the tools to move your goals to the next level whether they are personal or for the organization.


Do you know how to apply entrepreneurial practices for personal or organizational gain?

Are you a closet entrepreneur?

Are you maximizing your skills and passion?

Tell me your story.

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