If you’re just starting a Non-Profit Organization you may be searching for fundraising ideas.  Many non-profit organizations operate by raising money.  Knowing about non-profit fundraising can be confusing.  Some may seek advice from other non-profit organizations wanting to know about sources and their strategies and what tools may be needed.  Listed in this article you may learn about fundraising fundametals and how to be successful in your fundraising plan.

The Right Tools for NonProfit Fundraising!

• Fundraising goals – set a goal for the amount of money that you would like to raise and specify how it will be allocated, whether to cover overhead expenses, fund a new program, rent or build a new facility and so on.
• A written plan – this should state how much money is needed, where the money will come from and how to achieve it.  This can be revised at any time or even scraped and start over.  Not all written plans will work.
• Cost – you will need to estimate the cost of your fundraising plan.  This should include any advertising, staffing, postage, website creation or changes and so forth.  Be careful you do not exceed your fundraising proceeds.
• Designate a timeline – start with a year calendar and record your dates when you plan to have your fundraisers.  Remembering to record any mailing dates or purchasing giveaways ahead of your scheduled activities.
• Sources – where are you going to generate your income from?  Current sources or maybe an area you did not tap into yet, consider state or federal government grants, civic groups, churches or universities.  How about choosing fundraising products or can you raise money online?
• Evaluation – every non-profit fundraising plan needs to be evaluated throughout the year.  Are you reaching your goals, do adjustments need to be made in your next events and changed anything be changed to help achieve your goals.

Charity and Non Profit Fundraising Program 

Non-profit fundraising can be challenging, especially in the first year.  But once you have the experience you may want to adjust your goals higher, try different techniques and develop more complex strategies.

Nonprofit Fundraising and Advancement 

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LLC Operating Agreement

LLC Operating Agreement

Creating an LLC Operating Agreement must also outline the contributions, and distribution of profits and losses.  You must also outline how addtional members would be added, let go and what would happen if a member would pass on or leave your company.  It is very important that when creating this agreement to specify as much as possible to avoid any situations or legal problems.

How to Create an Operating Agreement

You can do so many things to tailor your agreement to suit you and the other person(s) the way you want to conduct your business.  This is one of the better aspects of owning and operating a Limited Liability Company versus a corporation where laws are dictated on the operation of your company.  You can look online for a sample LLC Operating Agreement to have a better idea of how some LLCs set up their agreements.  If you feel that you need professional help, seek the advice of an experienced attorney that specializes in these agreements.

2 Clauses Every LLC Must Contain to Protect Your Assets 

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Outlining a business plan gives you details of your goals and how achieve them.  You want to outline where your starting point is or if it is an existing business where it is currently.  Where do you want the business to be, what time frame and how to get there.  This is extremely important for any investor or creditor to make a decision whether or not to make the investment.  Your business plan outline will assist you in managing your business.  You want to outline financial projections, sales forecast and budget.  Normally books are closed monthly where you would be able to compare your budget and be able to make any changes when needed.

How To Write A Business Plan

Outline how future sales will be reached.  What type of marketing strategy you will use an why.  Which type of market is suitable for your product or service.  List as much information as necessary including description of your customers, special markets like seasons and demographics, pricing your product or serivce and how much and who is your competition.

Business Plan Pro Advanced Training – Financial Forecasting

Finally, completing your business plan outline is how much will this cost?  Do you have the funds for start-up or must you acquire it.  If so, define how the funding will be used, how long will it take to re-pay, how much at a given time.

There is alot to consider when starting or expanding a business.  Having a business plan outline can help guide you.

How to Write an Executive Summary for a Business Plan

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Aged Shelf Corporation

Why would someone want to purchase a shelf company? 
   •To save time in the setup of a new company or corporation
   •To bid on contracts, certain locales require a company to be in business for a length of time
   •To obtain access to business credit
   •The ability to gain investors capital
   •Easier access to corporate credit

Accessing credit and capital may not be so easy though, most creditors will dig into a company’s history before allowing a loan or investment. 

There are associations that start and sell shelf companys where the new owner can show a history to creditors or investors.  This does not mean every assocation or business that creates or sells a shelf company is on the up and up.  There has been many complaints and abuses of this.  Check out the seller or creator of the shelf company before buying.  Know that the shelf company before you purchase is free of liens or judgments.

BEFORE YOU BUY A SHELF CORPORATIONS 

There are a few ways to protect yourself by obtaining certified articles of incorportion, pre-printed stock certificates, corporate seal, certificates of good standing and any minutes from meetings.  Each of these items should be obtainable through the state where the shelf company was created.

Nevada Aged Shelf Corporations

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Are you looking to start a small business, company or expanding your existing business?  Learn how to do market research for your new company formation.  First you must ask yourself which type of business do you want to develop and what type of identity do you want to create.  If you are going into business alone, you may want to consider sole proprietorship.  This type of company formation can be operated as a DBA and by your social security number or file for an Employer Identification Number also known as an EIN.  This company formation does place more legal responsibility on you.  Consider all the options when choosing which business formation.

Company Formations Advice – Choosing a Company Name 

Another company formation maybe a partnership with two or more people operating the company.  There are several different partnerships to consider, limited or general are the most common.  You want to select others with the same business goals and someone who you can work well with and willing to take on the responsibilities of the financial burden and be held accountable.  Some partnerships are set up as a Limited Liability Company.  There are some costs involved in this company formation but it also gives you an umbrella of liability protection.  Seek legal advice before setting up any form of partnership, an oral agreement would not be recommended.

Incorporating your business maybe another option, but this can be complex.  There are much more costs involved than the other two options.  This is where you have a stockholder or a group of stockholders controlling the company.  This company formation holds annual and regular scheduled meeting of stockholders for the board of directors where the minutes of the meetings must be documented outlining their business decisions.  Corporations are normally set up as a C or S Corporation. 

Company Formation 

You ask yourself which company formation is made simple, quick and inexpensive.  Take the necessary steps in seeking professional help with an accountant and possibility an attorney.  They can take you step by step in determining which company formation may best suit your needs. 

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Basics of Tax Deductible Business Expenses

Basics of Tax Deductible Business Expenses — powered by eHow.com

Get to recognize the high seven tax deductions for home businesses.  These must qualify as an expense that is incurred by conducting or business associated with a trade or profession and type of expense that is ordinary and or necessary in operating the business.  A  tax deductible expense cannot be excessive given the set of circumstances pertaining to the expense.

You can determine what does and does not qualify for a tax deductible expense.  Search for your state revenue agency or IRS online.  Many government agencies will list guidelines that can help you to catagorize your expenses and determine which ones are tax deductible and which ones are not.  You should be able to print the documents that you locate online or request hard copies by phone to be mailed directly to you.

Often Overlooked Tax Deductions

Another option is to seek a professional accountant for income tax tips for year 2010.  Many attend refresher classes in December before starting to prepare tax returns for the tax year.  They not only know about the current tax laws and what is allowed for tax deductible expenses, but are knowledgeable on how state and federal agencies interpret certain deductible expenses.  This takes the guess work out of whether or not an expense is tax deductible or not.  Just taking the time to find out as much as possible on which tax deductible expenses are allowed will make it much easier and less frustrating when filing your annual tax return.

Expense Tracking Made Easy 

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Promotional Marketing Products: Sales Packaging Inc.

Always look at your promotional marketing concept and approach.  Choosing the right promotional products that people will keep instead of throwing away.  If you give a customer a cork screw that is not used everyday this will not reinforce your company name with your customer.  Look at your customer base you are trying to target and select items that way.  All men, all women this is your starting point.  Next is which items would be more useful to them that they would use daily and last for a few years:  travel mugs, pens, calendars, healthcare items and thermometers.

Where does the marketing start?  With your message that is imprinted. Getting the word out using promotional products is more than an item with your company name and logo but a message thanking your customer or call to action. You can reward your customers for their patronage or target new potential customers with a message. 

3D Pop Up Promotional Flyer

You can create a powerful promotional marketing campaign and measure your success.  First ask customers how they heard about your product or company.  You can imprint a special code, message or website url on the promotional item so that you will know when people have contacted you through your giveaways.  Know where your leads are generated from.  Tracking your promotional marketing is critical.  Some marketing campaigns run for days, weeks and even months.  Keeping flexible during the long campaigns enables you to make changes to get the most impact.

B-to-B Marketing Fundamentals Don’t Change

Finally, keep promoting your business around the holidays by sending your existing customers a special thank you gift, send your best customers a birthday or anniversary gift and don’t forget to promote your business internally by giving your employees a gift at their anniversary year of employment for putting in the most time or effort in making your company prosperous.

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I do have some experience in writing about home office deduction for small businesses.  We are a small business and work out of our home.  When filing your taxes and claiming a home office deduction the space must be exclusively for your business.  We have consulted with our accountant on which items are deductable, which items are not and the percentage of home space used for our small business.  Your deduction may be a room or space in a room as long as the space is identified as separate that you use for your home office deduction.

 The IRS states the following:
If you use a portion of your home for business purposes you may be able to take a home office deduction. Generally, in order to claim a business deduction for your home, you must use part of your home exclusively and regularly:
    •As your principal place of business, or
    •As a place to meet or deal with patients, clients or customers in the normal course of your business, or
    •In any connection with your trade or business where the business portion of your home is a separate structure not attached to your home.
    •For certain storage use, rental use, or daycare-facility use, you are required to use the property regularly but not exclusively.
Generally, the amount you can deduct depends on the percentage of your home used for business. Your deduction for certain expenses will be limited if your gross income from your business is less than your total business expenses.  There are special rules for qualified daycare providers and for persons storing business inventory or product samples.

The IRS is very clear on the exclusive use required by setting aside a space in your home for your business.  You may work a few hours or all day and six or seven days a week but don’t violate the exclusive use requirement by allowing your spouse or children to use the space for personal use, you may surrender the opportunity for the home office deduction.

My Home Office Deduction 

Having a business in our home vs renting an office space somewhere else in a building has reduced our overhead costs.  It has saved on rent, electric, heat and phone costs.  Would I recommend a home based business and taking the home office deduction, yes.  This benefit has given alot of small businesses a chance to grow and survive.  Don’t be afraid to take the home office deduction thinking is will trigger an audit by the IRS.  Alot of changes in the tax laws since the late 90s have made it much easier for people to start a small business and work out of the homes. 

How do you calculate the business percentage of your home?  The home office deduction is calulated on the square footage of the space used for your business divided by the overall square footage of your home.  If your space measures a 12 x12, the square footage would be 144 square feet.  If your home measures 28 x 40, the square footage is 1,120 square feet. Divide the space square footage by the home square footage, 12.8% (144 ÷ 1120).

What does the 12.8% percentage really mean.  You may be able to deduct a portion of your mortgage interest, property taxes, home owners insurance, electric, phone, heat and any general repairs and maintenance.  Any expenses to maintain or make repairs to the space is fully deductible. 

Home Business Tax Deductions (Home Office Deductions) 

What you cannot do is create a tax loss to cover other income.  Your home office deductions cannot go beyond your business income. When in doubt always check with your accountant to see which expenses you qualify for.  Having a professional advise you in the start up or existing business is never a bad idea.  They can give you direction that is beneficial to your home based business.

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If you’re just starting in business and considering which way you should set up your company, you may want to consider a limited liability company.  This can be set up as a single owner or partnership.  First thing is to file articles of llc formation or articles of organization with your state government agency that handles limited liability companies.  The form is simple, you will need to provide information as the company name, people forming the company, their names and addresses and the contact person for the LLC and a description of the business you are forming.  If you are already a sole proprietor you can become a limited liability company.  An attorney may also assist you setting up your limited liability company.

All You Need To Know About LLC Formation-Business

All states are not the same when it comes to filing llc formation articles.  I know our state of Pennsylvania requires a public notice in the newspaper.  Some states may also require an operating agreement.  You can do some research for your state on the internet to see the requirements.  Just type in state secretary for your state (PA state secretary) and there should be a link for Corporate Filings.  Usually there are links listed for each business organization that you can ready to see which one is best for your company.

A llc formation gives your company limited liability protection.  Having an operating agreement drawn up to show how the llc’s owners or members relate to each other and to the limited liability company can improve your liability protection.  Having the assistance from an attorney can be beneficial. 

Some states may also require a business license for your new llc.  Once you’ve received notification from the state that you’re approved, the llc formation is complete.  When filing in the state of Pennsylvania we received a limited liability seal stamp, an outline of the operating agreement and also a book of certificates showing the percentage of interest each owner or member owns.  You may also want to set up an appointment with your accountant.  Filing taxes will require a filing for the limited liability company as well as your personal filing.  

 LLC Formation

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Hire a professional to review your tax deductions.  Don’t just hire an accountant or CPA to prepare your taxes, ask for a complete review of the tax deductions that will work in your favor.  You don’t only need a tax preparer you need a tax planner.

Listed below is just a few tax deductions that are not well known, business owners may not know they can deduct:

Corporate Meetings:  Each year you need to update formal company documents which is required by law, financial records, appointed officers and minutes of all meetings. Combine your vacation and corporate annual meeting as an owner.  The entire trip can be tax deductible.
 
Rewarding Your Employees:  Rewarding your employees with a check is not deductible.  You may give an employee a tax deductible gift which may include golf clubs, high def TV, furniture, etc.  Any type of gift other than cash.  You may reward an employee for the length of time they worked for the corporation, achievement in sales, or even for safety. 

Gifts to Other Businesses:  Giving a gift to another business owner or employee (purchasing agent) has an unlimited amount.  Many businesses owners may purchase promotional items imprinted with their business name and logo or different types personal items like gym memberships.

Educational Seminars:  These are tax deductible.  Training for new software, further knowledge of business operations or even something totally different that has nothing to do with your current business.

Relocating Expenses:  If you’re planning to relocate an employee, the moving expenses are tax deductible, it can be on the other side of town of the other end of the country.

Retirement Plans:  Contribute money in your retirement plan for yourself and/or employees, tax deductible.

Home Office Deduction:  If you use your home exclusively and regularly you can claim a business deduction on your home.
      As your principal place of business, or
      As a place to meet or deal with patients, clients or customers in the normal course of your business, or
      In any connection with your trade or business where the business portion of your home is a separate structure not attached to your home.
      For certain storage use, rental use, or daycare-facility use, you are required to use the property regularly but not exclusively.
Generally, the amount you can deduct depends on the percentage of your home used for business. Your deduction for certain expenses will be limited if your gross income from your business is less than your total business expenses.

With so many tax laws, take the time to research a professional tax adviser and preparer.  Some tax laws change from year to year which most people are not aware of.  I have found it beneficial in having our certified public accountant that can assist us in any questions we have and advise us with tax deductions, what is deductible and what isn’t.

Home Business Tax Deductions 

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