Cohousing-L Mailing List: Re: Non-profit entities

[Tiffany Lee Brown (magdalen23]

In previous post, I meant accept funds not except funds. This is what happens 
when you dictate your emails into an iPhone sorry

T

Sent from the far shores of a distant land

> On Oct 13, 2016, at 9:21 AM, Tiffany Lee Brown <magdalen23 [at] gmail.com> 
> wrote:
> 
> I run a small nonprofit, and I do not have the cohousing experience. However 
> I thought a little feedback from me might be helpful anyway.
> 
> One of the best ways to approach the question, "Should we start a nonprofit?" 
> is to try it out first by finding a fiscal sponsor. fiscal sponsorship 
> involves an existing 501(c)(3) agreeing to act as your fiscal sponsor, 
> generally taking about 10% off the top of any revenue you generate through 
> them. Your goals should roughly align with their mission statement, but you 
> are not considered part of their programming.
> 
> The fiscal sponsor can issue donation receipts to your donors, to be written 
> off on their taxes in many cases, and takes care of the higher level 
> bookkeeping and administrative tasks and costs associated with running a 
> 501(c)(3). In some ways these expenses and activities don't seem like a whole 
> lot, but when you are doing them, they can end up running your life. It can 
> be nice to have someone else doing it for you. You would want to ask the 
> fiscal sponsor whether they could except funds on your behalf from certain 
> foundations and individuals you plan to target, in case they feel there is a 
> conflict between their own interests and yours.
> 
> After a year of working with the fiscal sponsor, you should have a much 
> clearer idea of whether your group should go ahead and go through the slog of 
> becoming a 501(c)(3) nonprofit. 
> 
> Also keep in mind that the board of directors must not profit in anyway from 
> the activities of the organization. I am not a lawyer, but I would guess that 
> your group would want to have goals such as helping the community at large, 
> not making your cohousing space better in order to increase your own property 
> values. I would be interested to hear what more experienced cohousers say 
> about using a 501(c)(3) structure.
> 
> T in Oregon
> 
> 
> Sent from the far shores of a distant land
> 
>> On Oct 13, 2016, at 8:44 AM, Joel Plotkin <joel [at] sunyit.edu> wrote:
>> 
>> 
>> Hey Cohos,
>> 
>> Hundredfold Farm Cohousing in Orrtanna PA is considering formation of a
>> 501(c)3 non-profit arm for the purpose of sponsoring events and receiving
>> grants from foundations. Have any other communities done this? Problems?
>> Successes? How did you use the non-profit? What were some of your mission
>> goals?
>> 
>> Respond on or off line...
>> 
>> Joel Plotkin
>> Hundredfold Farm Cohousing
>> Orrtanna PA
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