Comments for HomeschoolCPA.com https://homeschoolcpa.com/ Helping homeschool leaders with legal and tax compliance Thu, 07 Nov 2024 16:03:33 +0000 hourly 1 https://wordpress.org/?v=6.7.2 Comment on IRS concerns: what happens if you compensate homeschool board members? by Homeschool is not always sunshine https://homeschoolcpa.com/should-you-compensate-board-members/comment-page-1/#comment-83489 Thu, 07 Nov 2024 16:03:33 +0000 http://homeschoolcpa.wordpress.com/?p=612#comment-83489 […] IRS concerns: what happens if you compensate homeschool board members? […]

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Comment on Is your homeschool group “just a bunch of moms”? by L.H. https://homeschoolcpa.com/is-your-homeschool-group-just-a-bunch-of-moms/comment-page-1/#comment-79683 Wed, 24 Jul 2019 20:33:23 +0000 http://homeschoolcpa.com/?p=7617#comment-79683 Thanks, Carol. At this point, our group has a name but no bylaws and is just an informal group of whoever can make it to playtime/socialize. Anyone can join and participate. I will keep this information in mind in case we grow. 🙂

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Comment on Is your homeschool group “just a bunch of moms”? by Carol Topp https://homeschoolcpa.com/is-your-homeschool-group-just-a-bunch-of-moms/comment-page-1/#comment-79678 Wed, 24 Jul 2019 19:22:58 +0000 http://homeschoolcpa.com/?p=7617#comment-79678 In reply to L.H..

LH,
I guess a tiny group that doesn’t collect any money is more like a play group or group of friends gathering.
They may be very informal, especially if a small sized group.

But sometimes the group may need to organize formally (including a name and bylaws) if

  • they wish to use public space such as a library
  • they wish to purchase insurance because of risky activities including sports or driving or caring for other people’s children
  • have policies and guidelines for membership and mission
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Comment on Is your homeschool group “just a bunch of moms”? by L.H. https://homeschoolcpa.com/is-your-homeschool-group-just-a-bunch-of-moms/comment-page-1/#comment-79676 Wed, 24 Jul 2019 18:58:52 +0000 http://homeschoolcpa.com/?p=7617#comment-79676 What if the group gets together and doesn’t do ANYTHING with money? Not asking for donations, not paying dues, etc. Are they still required to become a formal group?

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Comment on Should a Classical Conversations Director be an LLC? by Carol Topp https://homeschoolcpa.com/should-a-classical-conversations-director-be-an-llc/comment-page-1/#comment-79465 Fri, 19 Jul 2019 16:10:29 +0000 http://homeschoolcpa.com/?p=7333#comment-79465 In reply to Christopher Segura.

Christopher,
Establishing an LLC for a nonprofit organization is a complex situation. Most nonprofits are nonprofit corporations, not LLCs. A nonprofit LLC is usually a subdivision under and existing nonprofit corporation.

But a CC Community can be reorganized from a for-profit business to a nonprofit organization with a board, bylaws, nonprofit incorporation, etc. A Director cannot “be” a nonprofit on her own. It takes a team, a board of directors, to correctly start a nonprofit organization.

I explain this in my webinar on Creating a Nonprofit for Your Homeschool Community. It will answer a lot of your questions about converting from a for-profit business to a nonprofit organization.
Create a Nonprofit webinar recording

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Comment on Should a Classical Conversations Director be an LLC? by Christopher Segura https://homeschoolcpa.com/should-a-classical-conversations-director-be-an-llc/comment-page-1/#comment-79452 Fri, 19 Jul 2019 13:07:55 +0000 http://homeschoolcpa.com/?p=7333#comment-79452 Is there a place where you answer Maria’s question about advice on establishing an LLC for a nonprofit business? I assume you are very knowledgeable about CC’s business model. Can a CC director be a non profit organization since many do this for God’s glory and do not make a profit?

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Comment on Webinar: 501c3 Application for Homeschool Nonprofits by Carol Topp https://homeschoolcpa.com/501c3apppost/comment-page-1/#comment-77952 Fri, 28 Jun 2019 13:47:34 +0000 http://homeschoolcpa.com/?p=8299#comment-77952 In reply to Annette Withrow.

Yes! The webinar was recorded and you can now view it and recieve all the resources (ebook, slide handout, sample IRS forms, etc) as well as a discount on my hourly consultation fee.
Go to HomeschoolCPA.com/501c3APP

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Comment on Does the EIN become the 501c3 number? by Carol Topp https://homeschoolcpa.com/does-the-ein-become-the-501c3-number/comment-page-1/#comment-77951 Fri, 28 Jun 2019 13:46:02 +0000 http://homeschoolcpa.com/?p=4397#comment-77951 In reply to Coach Brass.

No. Getting an EIN does NOT make you a legitimate nonprofit.

To be a legitimate nonprofit, you must have a board and bylaws that explain your purpose, structure, board makeup, etc.
Each state defines what the board structure needs to be, but typically it is a minimum of 3 people with officers (President, Secretary and Treasurer).

You can read what your state requires to be a legitimate nonprofit by searching on “YOUR STATE start a nonprofit”
or visit: https://www.harborcompliance.com/information/nonprofit-startup-guide

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Comment on Does the EIN become the 501c3 number? by Coach Brass https://homeschoolcpa.com/does-the-ein-become-the-501c3-number/comment-page-1/#comment-77875 Wed, 26 Jun 2019 22:47:12 +0000 http://homeschoolcpa.com/?p=4397#comment-77875 I have a ein number for my non profit business does that make me a legit non profit

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Comment on Webinar: 501c3 Application for Homeschool Nonprofits by Annette Withrow https://homeschoolcpa.com/501c3apppost/comment-page-1/#comment-77850 Wed, 26 Jun 2019 02:10:16 +0000 http://homeschoolcpa.com/?p=8299#comment-77850 I can not attend the webinar at the time listed due to a prior commitment. Can I still sign up for it and receive the information and link to view the recording?

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