Thinking about starting a vehicle donation program for your not-for-profit organization, but don't know where to begin? Or wondering if it's still worth it? The American Jobs Creation Act, which passed in 2004, makes vehicle donation programs more difficult for not-for profit organizations to operate.
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Many organizations spend a lot of time and money creating mission statements, to highlight their work and align employees around a common vision. But the fact is that many mission statements fail, becoming nothing more than a wall ornament or a bunch of words tucked into a seldom-read company handbook.
You know the drill: It's midnight and your grant proposal is due tomorrow. Your assistant left hours ago, and the words on the computer screen start to blur. "It's not worth it," you think. And besides, only a few grants pan out anyway.
Whether your're an environmental organization raising funds for a lawsuit or a community group needing new equipment, you may want to sell something to raise money.
Is your organization pursuing planned gifts? It should be. Research suggests that the average planned gift in the United States falls between $35,000 and $70,000 -- and the amount may increase with more Baby Boomers moving into retirement. Yet many not-for-profits, especially small and medium-sized organizations, lack formal planned giving programs.
Your organization probably spends vast amounts of time and money producing direct mail campaigns to raise funds. Those costs are justified if you get the response you're seeking.
Games of chance like bingo and raffles are often synonymous with tax-exempt organizations. However, the income from such "gaming" activities operated by charities is not automatically tax-free. The IRS has provided more insight into the key rules in this area in its Publication 3079, Tax-Exempt Organizations and Gaming.