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Charity TherapyAuthor: Jess Birken, MNM, JD
What if you could hang out with experienced nonprofit professionals and ask them your burning questions about the day-to-day life of nonprofits? What if you could take their wisdom and bring it back to your organization, for free? That's what we do on Charity Therapy. Hosted by Jess Birken - owner and lawyer at Birken Law Office. Every episode is an in-depth look at how to run a nonprofit, from fundraising to IRS woes to people problems and more! Our goal is to empower nonprofits to achieve your mission by doing things right. Language: en Genres: Business, Management, Non-Profit Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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125: True Crime Mukbangs | Understanding Scammy Nonprofits
Episode 125
Thursday, 14 November, 2024
In this episode of Charity Therapy, Meghan and I are diving into the wild world where nonprofits and for-profit businesses collide. Ever wondered what happens when one person owns both a nonprofit and a business? Spoiler alert: it can get messy. We'll answer your burning questions about these murky waters, help you spot the red flags, and remind you why transparency is crucial. Plus, we'll chat about how the IRS keeps a close eye on potential scams and insider deals. We won't sugarcoat it—things can get shady when a nonprofit starts buying from its owner's business. We're talking about the nitty-gritty of private inurement and excess benefit transactions. If that sounds like a foreign language, don’t worry—we break it down in plain English. We'll even throw in some hypothetical scenarios to help you see the potential tax perks and pitfalls. Whether you're a nonprofit newbie or a seasoned pro, you'll leave this episode with a better understanding of what to watch out for. Finally, we tackle the tricky topic of scams. They're not just harmful—they're often pointless, too! We encourage you to cut ties with any sketchy schemes and share your stories with us. Got a friend tangled up in a dubious venture? We'd love to hear about it and offer our take. Remember, you're not alone on this nonprofit journey, and we're here to help you navigate it with a bit of humor and a lot of heart. In this episode, you will hear: Spotting sneaky nonprofit tricks: nonprofits linked to for-profit businesses and suspicious money flows between them Why owning both a nonprofit and a for-profit can lead to IRS issues and is usually discouraged How nonprofits purchase from the owner's business, hinting at potential misconduct Scams, avoiding shady dealings, and adhering to nonprofit ethics Nonprofits require effort and aren't a shortcut to riches Resources from this Episode Sign up for the Birken Law Email list: https://birkenlaw.com/signup/ Facebook page: https://www.facebook.com/birkenlaw Follow and Review: We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
