When a funder asks for a single number for the “budget”, what exactly do they want? We have some thoughts! Also, this week we turn a question about red flags to watch out for when considering an ED position into an excuse to complain about things! Finally, if you’re having trouble sleeping, Stacey and Andy have just the IRS publication for you!
Is it a huge red flag when an organization has no fundraising expenses reported on their 990? That sounds like an easy enough question, but instead Stacey and Andy get all in the weeds about output factors, the birth of Guidestar, bacon double cheeseburgers and the dreaded overhead ratio question on grant applications. Also discussed: the governance implications of board members in love. Don’t miss this episode!
- Do we have a governance problem if two board members have started up a romantic relationship?
- Is it a red flag when an organization reports no fundraising expenses on their Form 990?
There’s just one question this week, but it’s an important one. Guest expert Miles Dickson of Nevada GrantLab joins us to talk about why Nevada nonprofits should be seeking out and applying for federal grants.
Hooray! Another Nonprofit 101 question! Is your IRS determination letter enough to not have to pay sales tax? Andy actually knows that one. This week we also find out what to do when a Board Chair won’t stand up to the scary Gala committee, and learn the difference between a sponsorship and a donation. We also discover both Stacey and Andy’s least favorite grant application question!
- Is having a 501(c)3 enough to not have to pay sales tax – [skipto time="0:00"]
- Our Board Chair won’t stand up to the Gala Committee. Help! – [skipto time="6:23"]
- What’s the best way to answer “prove this program is sustainable” on a grant application?- [skipto time="14:07"]
- What’s the difference between a Sponsorship and a Donation?- [skipto time="20:16"]
Today’s episode is sponsored by Brenda J. Stout, CPA, a full-service accounting firm specializing in Nonprofit Tax Compliance and IRS Problem Resolution.