Non-Profit Corporations
While some government
grants and corporate grants are available to individuals and
for-profit businesses, the greatest
numbers of grants, whether from foundations, corporations, or
government, are available to non-profit corporations. Tax laws make
it possible for wealthy individuals, families, or businesses to
redirect money they would otherwise have to pay in taxes, to
underwrite charitable causes.
This money must be
granted, however, to organizations which have qualified for
non-profit tax status. In the United States, that means
organizations which have obtained 501(c)(3) status from the Internal
Revenue Service. In Canada, and most other countries, the government
taxing authority offers similar designations to qualified
organizations.
Non-profit
corporations may be established to receive money that will be used
for a charitable purpose, for the benefit of the community. If you
have a community project, you can use the non-profit structure to
find grants to fund your work, and to provide a salary to you while
you do the work you enjoy.
It is often
possible, also, to create a parallel structure of a business and a
non-profit corporation, and thus provide indirect support to a
business. An example might be a dance studio that offers classes to
both private pay and low-income students. A parallel non-profit
might be established to receive grant funds to provide scholarships
to low-income dance students.
If you would like
to learn how to set up your own non-profit organization, and how to
structure a non-profit to maximize your access to grants, we offer a
class called "Create Your Own Non-Profit." Although we do
provide state-by-state guidelines, the class focuses particularly on
the steps you must take to avoid future problems and ensure the
success of your project.
This class is one
of two modules included in our Grants Training Classes. The
other module is "Power Your Business with Free Money," which shows
you how to find and write grants for a community project, or to
start a new career as a Certified Grant Writer.
Learn more about
our training, and see video testimonials from former students, at:
www.GrantMeRich.com/classes.htm
2008 (c) Live Oak
Tree, LLC
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