A grant is a free gift of money that you never have to pay back. There are 3 basic types of grants: foundation, corporate, and government grants. Grants can range in amount from a few hundred dollars up to hundreds of thousands of dollars depending on the funder.
There are over 70,000 foundations in the United States. Some foundations give to support youth or the elderly, some want to underwrite medical research, and others are committed to creating social change. If you have a project that will benefit humanity, chances are there’s a foundation that will be interested in hearing about it.
There are hundreds of billions of dollars granted each year, which stimulates the economy, and creates projects that improve communities. However, this money is given to Nonprofit Organizations that are exempt from federal income taxes.
501(c)(3) Tax-exempt nonprofit organizations are divided in to 3 major types:
Charitable – organizations are organized and operated for purposes that are beneficial to the public interest.
Educational – organizations that show that they support education, such as providing supplemental education and tutoring to school-age children.
Religious – organizations whose practices are associated with the organization’s religious belief or creed.
Examples of nonprofit organizations are:
- Churches
- Ministries
- Schools
- Community Development Centers
- Youth Enrichment
- Family Support Services
The benefits of the 501(c)(3) Federal Tax Exempt Status are:
- The nonprofit organization is exempt from having to pay federal taxes on income it receives.
- The 501(c)(3) Federal Tax Exempt Status Nonprofit Organization can apply for GRANTS (Free Money) to fund their programs.
- Donors (people who make monetary contributions to the nonprofit organization) are able to take a charitable deduction for their donations on their personal tax returns.
- The 501(c)(3) Federal Tax Exempt Status organization can apply for state tax exemption, personal property tax exemption, and real property tax exemption for real property that the organization owns.
Nonprofit organizations can service the community by establishing programs that service youth and adults. Such as:
- GED Preparation
- Computer Training
- Entrepreneurship
- Leadership
- Life Skills
- Mentoring
By providing such services, nonprofit organizations enhance the quality of life of youth and adults, and greatly contribute to the productivity of communities.
Reach Out and Help Others in the Community Today by Establishing a Nonprofit Organization.
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Attorney Karmen A. Booker is the Chief Consultant for Compu-Perfect Professional Services, a 15-year old business-consulting firm. She can help you write your vision, make it plain and fund your vision. She can assist you from Start to Finish in establishing your nonprofit organization and securing your federal tax exempt status, and help you obtain GRANTS (Free Money) to help fund your nonprofit’s programs and services. She also offers Special Discounts, so Contact Attorney Karmen A. Booker at (301) 408-1082 or via email – info@compuperfect.net.
Attorney Karmen A. Booker has developed the “Nonprofit Sample Template” e-book that provides templates for the following:
- Sample Mission Statements
- Sample Business Plans
- Sample Donor Solicitation Letter
- Sample Thank You Donor Letter
- Sample Press Release
- Sample Letter of Inquiry
- Sample Corporate Donation Letter
- Sample Board Member Application
- Sample Board Member Agreement
- Sample Volunteer Application
- Sample Volunteer Agreement
- AND MORE
This Nonprofit Sample Template is a valuable resource for all Nonprofit Organizations who desire to use effective tools that will undoubtedly help them acquire funding and provide quality services for their target markets.
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