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Financial and Strategic Management for Nonprofit Organizations, Fourth Edition by Herrington J. Bryce

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Chapter 4 Managing the Nonprofit as a Private Corporation

Why is an understanding of the privately financed 501(c)(3) desirable? First, some of the rules that govern these organizations are good rules for all nonprofits to follow. Second, all publicly supported nonprofits are potential private foundations because this is the way they are classified when they fail the public support test. Third, the private foundation is a principal source of financing publicly supported organizations. For this reason, this chapter ends with a discussion of strategic information for soliciting foundations. Fourth, all endowments and charitable trusts, a major topic of this book, operate under the rules of private foundations. Fifth, the IRS presumes every organization ...

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