Non-profit organizations are essential for creating more equitable and prosperous communities. The Austin Community Foundation (ACF) is a great example of how these organizations can come together to protect their legacy and their indispensable role in the future of the United States. ACF offers a philanthropic tool for corporate donations called the Donor Advisory Fund (DAF). Companies can donate cash or non-monetary assets, receive an immediate tax benefit, and then use the funds to allocate DAF grants to charities that meet the requirements over time.
If you're looking to uncover the impact that a particular non-profit organization has had on its community in Central Texas, there are a few steps you can take. First, you should ask the donor for permission to reuse their donation. Most of the time, donors will agree when it makes sense. However, if they refuse, charities may have to reimburse the donation if it cannot be used for its original intended designation.
You can also contact the Exempt Organizations Section of the Texas Comptroller of Public Accounts Office (800) 252-5555 or (51) 463-4600. This section of the Public Information Act defines “governmental body” to include “part, section, or part of an organization, corporation, commission, committee, institution, or agency that spends or receives full or partial support from public funds.” Whole Foods Market is a great example of how a company can use a traditional tool like a DAF in an innovative way to achieve a greater impact on the world. Additionally, non-profit organizations may include a disclaimer in their requests that reserves the right to allocate money as needed to avoid any potential issues. To be exempt from taxes, non-profit organizations must meet certain requirements and file an application with both the IRS and the Texas Comptroller of Public Accounts.
The annual board of directors training program is an immersive, full-day course designed to prepare individuals who are interested in working in a non-profit organization. The Texas Business Organizations Code requires that a non-profit corporation have at least three directors, a president and a secretary. In order to uncover the impact that a particular non-profit organization has had on its community in Central Texas, there are several steps you can take. From asking donors for permission to reuse their donations to contacting the Exempt Organizations Section of the Texas Comptroller of Public Accounts Office, there are many ways to uncover this information.
It is important to remember that non-profits must meet certain requirements in order to be exempt from taxes and must file an application with both the IRS and the Texas Comptroller of Public Accounts. Additionally, companies like Whole Foods Market have used traditional tools like DAFs in innovative ways to achieve greater impact on their communities. Understanding these steps can help you uncover the impact that non-profits have had on Central Texas.