Types of Private Foundations

IRS classifies private foundations into two broad types:  Private operating foundations Grant making foundations Private Operating Foundations Nonprofit private foundations that run charitable programs directly with the beneficiaries are called private operating foundations Private operating foundations do not make grants to outside organizations or individuals. Grants, if any are direct gifts to beneficiaries. Private operating […]

Options for Structuring a Nonprofit Organization

If you plan to start a nonprofit organization you can choose any one of the following structures for your organization. There are generally five possible structure options for forming a non profit organizations which are as follows: CORPORATIONS – A state law creates a corporation which is generally limited by and created under statutory law. […]

How to Form a Cooperative: Steps Involved

Cooperatives are normally formed as corporations under respective state cooperative laws. The process of forming a cooperative is very similar to the process of incorporation. Like corporations, cooperatives are formed on organizing documents (articles) and governed by adopted bylaws. The following steps are generally involved in forming a cooperative STEP ONE: IDENTIFYING STATE LAWS FOR […]

What are Cooperatives ? Meaning & Scope

A cooperative is defined as a group of interested members who get together to work and achieve a common goal helping each other in the process. These members may be individuals or group entities like businesses. Cooperatives are a common feature in several industries across the globe. Cooperatives are a very distinctive kind of nonprofit […]