Video Q&A for Subscribers: May 2024
THIS IS A PREVIEW OF SE4N’S SUBSCRIBERS-ONLY CONTENT.
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Ben and Mike answer questions from subscribers about Board liability exposure, deciding whether a new organization should have a broad or narrow focus, how receiving more than $50,000 in revenue impacts an organization’s Form 1023-EZ, and when nonprofits should think about changing audit firms.
CHAPTERS:
00:00 - Intro
02:10 - Liability exposure for actions of past leadership
06:44 - Deciding whether an organization can be saved
09:04 - Deciding whether a new foundation’s mission and programs should have a broad or narrow focus, and the benefits of adding a 501(c)(3) organization under a 501(c)(6) chamber of commerce
14:10 - Leaving flexibility in the organization’s governing documents and Form 1023 application to evolve the organization’s mission and programs
17:58 - Exceeding $50,000 in revenue after filing Form 1023-EZ
22:29 - Form 1023 and Form 1023-EZ public disclosure requirements.
23:15 - Deciding when to change audit firms
