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COLLEGE &
CAREER
ACADEMIES A
S
NONPROFIT
S
DO
N’ T
LE
T R
UN
NI N
G A
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1 (
C) (
3) S
CA
RE
Y OU
! !
IRS LINKS TO SUCCESS
• http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Exemption-Requirements-Section-501(c)(3)-Organizations
• http://www.irs.gov/Charities-&-Non-Profits/Application-Process
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RULES
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be
organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
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IRS & GA SECRETARY OF STATE DOCUMENTS
• IRS Tax Exempt Letter• Keep it & file it • Will need for documentation purposes a few times a
year• EIN
• GA Secretary of State Letter• Keep it & file it • Will need for documentation purposes a few times a
year• Annual registration and renewal
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WHAT DO YOU DO ONCE ESTABLISHED
• Mission
• Vision
• Values
• Investment Opportunities
• Performance Goals
• Other
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STRATEGIC PLAN FOR YOUR 501 (C) (3)
• Develop Strategic Plan for your 501 (c) (3)
• It’s not a foundation but that is what everyone will call it
• Do you need a DBA• We did….our official name is Golden Isles Technical and Career
Learning Inc.-----our DBA is Career Academy Foundation• Helps with recognition
• Create a budget
• Create an elevator speech
• Create and learn what a logic model is
• Sample Finance Meeting Agenda included
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SUPPORT AND PREP
• Identify Board of Directors who are willing to help with the fundraising efforts• Rare responsibility of “governance” & “fundraising”
• Identify Key businesses, individuals or agencies that will give you seed money
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SUPPORT AND PREP CON’T
• Develop relationship with Chamber and Development Authority
• Identify and develop volunteers that will help with fundraisers
• Add page/link to website for your foundation
• Create brochure and/or flyer to describe your foundation, beliefs and what you are in business for
• Find and distribute any research base articles that support any initiatives such as service learning
• Know Career Academy Data (i.e. cost per student, economic impact on community…)
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NONPROFIT SUPPORT & PARTNERS
• Our foundation is a United Way Agency• Receive funds for service learning & co-curricular
competitions
• Service Organizations• Currently receive funds from Kiwanis
• Nonprofit Partners• Community in Schools, Boys and Girls Club, Safe
Harbor, Goodwill, Red Cross……• Received free services, goods for a fundraiser, &
additional names of people who donate time and/or money in the community
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FUNDRAISERS
• Establish fundraising committee• Volunteers, parents, teachers, students, Board of
Directors…
• Select fundraisers that you can pull off• Dinner, Silent Auction & Music Event• Golf Tournament• Car Donation Program
• Future Endeavors• Partners program such as Rockdale’s
• Developing tier structure• End of year capital campaign
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MARKETING & COMMUNITY EVENTS
• Scholarship Luncheon• Try to find a sponsor for lunch (if not, it’s still worth it)• Free to community• Invites businesses and families of scholarship recipients• Speakers thus far Jack Kingston, Mayor, & popular radio host
• Chamber Luncheon or Breakfast (Chamber benefits $$)
• GP, Gulfstream, Pinova, United Way, Realtors,,,, Training held on site
• GPEE Bus Stop & Tour location
• Fall 2015 Lt. Governor’s Business Summit
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TAX RETURN AND COMPILATION AUDIT
• You must file a return
• You should have your books audited annually for your benefit also because of grants and certain agency requirements such as United Way
• Your foundation bank account should be at a different bank than where the school banks at• Don’t mix the money
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TAX RETURN AND COMPILATION AUDIT CON’T
• Receive financial advice and procedures from a professional (i.e. system CFO or independent accountant)
• We have an independent accountant that volunteers• We pay someone to file our tax return• We pay a different accountant to complete a
compilation audit• usually washes out because of their contributions
or their support of our fundraisers
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REVIEW OF RESOURCE HANDOUTS
- Life Cycle of a Public Charity
www.irs.gov
- Starting a Non Profit Organization in Georgia
www.gcn.org
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Rick Townsend
CEO
Golden Isles Career Academy
4404 Glynco Parkway
Brunswick, GA 31525
912-506-5347
Dr. Barbara Prosser
CEO
Effingham College & Career Academy
2940 Highway 21 South
Rincon, GA 31326
770-778-3966
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QUESTIONS
