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Knowledge base

What resources are available for setting up a scholarship fund?

https://learning.candid.org/resources/knowledge-base/scholarship-funds/

Scholarship grants change the lives of their grantees by providing access to education, resources, and powerful networks. Some scholarship funds also leverage their programs to impact society in a broader...

Knowledge base

What is an EIN?

https://learning.candid.org/resources/knowledge-base/ein/

An Employer Identification Number, or EIN, is a unique, nine-digit identification number that the IRS assigns to organizations in order to track their tax accounts and annual returns, much like...

Knowledge base

What are the advantages/disadvantages of becoming a nonprofit organization?

https://learning.candid.org/resources/knowledge-base/pros-and-cons/

Advantages Tax exemption/deduction: Organizations that qualify as public charities under Internal Revenue Code 501(c)(3) are eligible for federal exemption from payment of corporate income tax. Once exempt from this tax,...

Knowledge base

How do I write a business plan for a nonprofit organization?

https://learning.candid.org/resources/knowledge-base/business-plans/

Like for-profit business ventures, nonprofits can create a business plan to describe how they will turn their mission into reality. The business planning process involves the following steps: Researching the...

Knowledge base

Can non-501(c)(3) organizations get foundation grants?

https://learning.candid.org/resources/knowledge-base/non-501c3s/

Grantmakers typically fund organizations that qualify for public charity status under Section 501(c)(3) of the Internal Revenue Code. These are organizations whose purposes are charitable, educational, scientific, religious, literary, or...