Whether an individual is donating $10 or $10,000, they all have the right to check that your charity is legally registered, is complying will all the necessary IRS rules and is fit to operate and continue to raise funds. This begins with an IRS Charity search in Minnesota.
Why Search Your Charity?
Anyone can carry out an IRS Charity search in Minnesota. Individuals can assess how you have performed in the past. They can compare the percentage of your donations that have been expended as nonprofit expenses and see what remained to be redirected to charities and good causes. By checking this information across several non-profit organizations, individuals can compare and decide who deserves their dollars the most.
The IRS Charity search in Minnesota will show a list of names of the people acting on the board of trustees as well as any other executive positions. This may be necessary if individuals are to be cross-referenced between one nonprofit and another.
What Will Your Charity Search Reveal?
Hopefully, you will have been working closely with a highly qualified legal team who have been able to ensure that all your documentation is always perfectly up-to-date and that you have delivered your accounts regularly and on time.
Individuals will want to see reports as well as accounts and annual returns because it is important that donors can see that you have been matching your mission statement, rather than moving off on a tangent.
Your legal team will remind you that your mission statement and your targets must be updated if you are to change your goals and to ensure that you do not mislead donors about your challenges and expectations.
Charity searches can reveal individuals that have been disbarred from acting as trustees. This is one of the main reasons why you should hire great legal representation from firms who are experts in nonprofit corporations and not just general practitioners who may understand more about properties and mortgages and cannot fully guide you on the running and managing of your foundation in full cooperation with IRS rules and regulations.
