Nonprofit Myths: #10 - Using the Nonprofit's Revenue?
MYTH: I can use the money for my nonprofit for anything I want.
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Nonprofit Myths: #9 - How Big Should a Board Be?
MYTH: I need a huge board of directors (or I don’t need a board at all, just me).
Nonprofit Myths: #8 - File Taxes?
MYTH: I didn’t apply to IRS for 501(c) (3) tax-exempt status, so I don’t have to file Federal annual nonprofit tax returns.
Nonprofit Myths: #7 - Family Members on the Board
MYTH: For my new nonprofit, I will put all family members on the board of directors, and we will control the organization.
Nonprofit Myths: #6 - No Profit for Nonprofits?
MYTH: Nonprofits are not allowed to make a profit from their activities.