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Toby Mathis
Top 10 Mistakes People Make When Setting Up and Operating a Nonprofit
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In today’s episode, Toby Mathis, Esq. speaks with Karim Hanafy, Esq., about the top ten most common mistakes that are made when setting up a non-profit 501(c)3. From issues with state vs. federal requirements, to describing your charitable activities, compensation of your board, and the ever-important asset protection, Karim has seen every mistake possible and wants to help you have a seamless experience when setting up your non-profit organization. See the links below for a free workshop from Anderson Advisors.

Highlights/Topics:

  • Karim’s background/expertise in non-profits
  • Top 10 mistakes in no particular order
  • Accidental setups in the wrong structure: For-profit, B-corps, LLC’s
  • State requirements for Articles of Incorporation vs. Federal
  • Describing your charitable activities
  • Incorrect terminology that triggers investigation and delays
  • Public charity or private foundation?
  • Compensation for directors and officers, board members
  • Filing tax returns
  • Donating different types of assets – professional appraisals and the correct forms
  • Donor thank you letters and the IRS-required language
  • Asset protection

Resources:

Start Your Nonprofit Plan in 45 Minutes For Free

Toby Mathis on YouTube

Full Episode Transcript:

Toby: Welcome back to the Anderson podcast. My name is Toby Mathis, and I am joined by Karim Hanafy. Welcome back, sir.

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