Prosperity Advisors

Does your organization qualify as a 501c3 charity?

admin — Thu, 06 Oct 2011 17:28:02 +0000

When people think of non-profits, they typically think of “charitable” organizations. For example, the Red Cross and Salvation Army are in this category. These organizations are governed under Internal Revenue code 501c3, which are more commonly referred to as publicly supported charities. One feature of 501c3 organizations is the tax deductible nature of donations that the organization receives. Charitable organizations, as defined by Internal Revenue Code, court opinions and I.R.S. rulings are organized for one (or more) of these specific purposes: The relief of poverty, advancement of religion, literary or support for the arts, promotion of health, scientific research, educational organizations (schools, universities, libraries, museums and organizations who instruct the public), and organizations designed to reduce suffering and prevent cruelty to children and animals.

There are other categories of non-profit (and generally tax exempt) organizations that fall outside of the 501c3, publicly supported charity classification. Examples of these organizations include social welfare and civic organizations, athletic clubs or leagues, social and fraternal clubs, business organizations, chambers of commerce, and agricultural co-ops, just to name a few. The important distinction is that donations to organizations outside of the 501c3 designation are not eligible for tax deductible status. Of course, there are exceptions to these rules.

Tax exempt organizations and not for profits are subject to a complicated and sometimes unclear set of rules. Be sure to determine what type of organization you are starting before applying for tax exempt or public charity status and receiving donations. If you need help, give us a call or join the monthly webinar.

Free Webinar – May 1, 2012

admin — Thu, 06 Oct 2011 16:47:05 +0000

Thank you for viewing our website. We offer a free, live webinar on the first Tuesday of every month. Our next webinar will be May 1, 2012 at 5 p.m. Pacific Time. Please sign-up in advance as spaces are limited. The webinar is 1 hour and will cover the 7 critical steps necessary to starting a non-profit or charitable organization. There is a live question and answer session during the call. We look forward to having you join us!

Webinar Schedule

admin — Wed, 21 Sep 2011 21:18:32 +0000

Thank you for viewing our website. We offer a free, live webinar on the first Tuesday of every month. Our next webinar will be May 1, 2012 at 5 p.m. Pacific Time. Please sign-up in advance as spaces are limited. The webinar is 45 minutes to 1 hour and will cover the 7 critical steps necessary to starting a non-profit or charitable organization. There is a live question and answer session during the call to give you the opportunity to ask an expert. We look forward to having you join us!

State Seeks Data on Pay of Leaders at Nonprofits

admin — Wed, 21 Sep 2011 15:57:29 +0000

A New York State task force on Thursday began sending letters to hundreds of nonprofit organizations that receive state money demanding details about how much they pay their executives and board members.

The information will be compiled electronically and could shine a light on executives who take home an outsize share of their organization’s revenue.

The findings could also lead to public hearings, a report and proposals for reform, said Benjamin M. Lawsky, the superintendent of the New York Department of Financial Services and chairman of the task force.

Gov. Andrew M. Cuomo, who created the task force this month following an article in The New York Times about salaries at some nonprofits, has said the special benefits conferred on nonprofit organizations obligated them to keep executive compensation at levels that did not undermine their responsibilities to the public.

Mark & Tricia Del Guercio, Prosperity Advisors, Inc.

admin — Wed, 21 Sep 2011 12:49:49 +0000

Mark Del Guercio, EA is the Founder and President of Prosperity Advisors, Inc. a company specializing in non-profit formation and consultation for people that are establishing non-profits and are seeking tax-exempt status. Prosperity Advisors has successfully advised over 375 non-profit organizations. Mark is an Enrolled Agent, admitted to practice before the Internal Revenue Service.

Tricia Del Guercio, non profit director, previously worked in her career field of 30 years with a Fortune 500 telecommunications company. Her leadership roles included consulting extensively with leading Las Vegas Commercial Real Estate developers to provide solutions to infrastructure challenges while working with leading data and technological service providers. Tricia understands the importance of visionary strategic planning, implementation and accountability.

Along the way, as a compassionate business woman and community leader, she has participated and served on several professional and charitable organizations including:

DECA – Board of Trustees – DECA prepares high school and college students as emerging leaders and entrepreneurs in marketing, finance, hospitality and management.

PBS Las Vegas – Board of Directors / Vegas PBS 40^th Anniversary Committee

Commercial Real Estate for Women Las Vegas – Member / Vice President of Programs – Board of Directors

Nevada Association Industrial Office Parks – Member / Program Committee

Nevada Development Authority – Member / Telecommunications Committee

National Governor’s Conference – Telecommunications Liaison working with White House Communications Agency.

K-9 Therapy – Member / Participant K9 – Therapy activities with her pet, Dolce Vita, visiting with seniors in Assisted Living Facilities and working with special needs children.

“I am passionate about helping people make an impact, serving my community and making a difference in the world.” Tricia Del Guercio

Prosperity Advisors Launch New Website

admin — Wed, 21 Sep 2011 12:42:31 +0000

Forming a non-profit has never been easier. Our experts will guide you every step of the way. From the incorporation process, to the organizational requirements, through the IRS application process, Prosperity Advisors, Inc. will assist you in meeting your goals. Our Team of experts including CPA’s, Attorneys and Financial Advisors are all available to you while you are forming your non-profit corporation. Knowing the rules is important, and Prosperity Advisors, Inc. will get your organization started in the right direction!

Charitable Mission

Our goal is to help you succeed in your Charitable Mission. If you are an educator, minister, business owner, or someone looking to get involved in your community, our team of charitable facilitators can help you reach your goals. Our main priority is to assist you in structuring your charitable endeavors. We are not just consultants; we are community builders.

100% Money Back Guarantee

In the event that the Internal Revenue Service fails to grant determination of tax exemption to the client and after all appeals have proven unsuccessful, provided the client has completed all necessary terms and conditions, the client shall be entitled to a complete refund of the fees paid to the Prosperity Advisors for the applicable service.

Corporate Core Training

admin — Wed, 21 Sep 2011 12:36:47 +0000

Join us for Corporate Core Training for non-profits, where we will present important information on how to maintain and grow your organization, select and manage boards and how to find and select volunteers. You will discover how to attract donors and corporate sponsors and the secrets of successful grant writing. You will also learn critical changes in reporting requirements and how to stay in compliance with the Internal Revenue Service.

Click the link below for a preview of Corporate Core Training.

Corporate Core Training for non-profits, May 19 – 20, 2012.

www.lvseminar.com

990 Help?

admin — Wed, 21 Sep 2011 12:29:32 +0000

Struggling to complete your organization’s 990 informational tax return before the May 15th deadline? Call our professional team of Enrolled Agents and CPAs to help you complete and timely file this required document. Don’t risk losing your tax exempt status! We are here to support you, call today.

702-203-7399 ( 8 a.m. – 5 p.m. Monday – Friday, Pacific Time)

Advantages of 501 (c) (3)

admin — Tue, 20 Sep 2011 13:09:03 +0000

1. LAWSUIT PROTECTION. The formal step of incorporating will protect you, your directors and officers from personal liability. In today’s world, even charities, churches and foundations are targets of lawsuits. Your only real protection is to incorporate.

2. TAX EXEMPTIONS. Internal Revenue Service Code (IRS) 501(c)(3) nonprofit corporations are allowed exemptions from state and federal income tax. You may also be eligible to get an exemption from sales and property taxes, as well.

3. RECEIVING DONATIONS. Your IRS 501(c)(3) corporation will be eligible to solicit and receive donations to further your charitable cause. Private companies, Individuals, Grants, Government and other Nonprofits corporations and Foundations may contribute. Donors typically will receive a tax deduction for their contribution.

4. PERPETUAL OPERATION. A non-profit corporation can live on, long after the founders have retired, resigned or died. The corporation can provide services and continue its charitable mission indefinitely, provided it complies with Federal, State and Local laws.

5. STRUCTURAL “BLUEPRINT”. The non-profit corporation provides the operating “blueprint” of the organization. Articles, Bylaws, Operating Agreements define the “how” and “why” of the organization. Our experts will draft these documents to your specifications.

6. BENEFITS. Non-profit charitable entities are allowed to pay its principles the same benefits as a for-profit organization. Employee benefits can include salaries, health insurance, medical expense re-imbursement, as well as corporate retirement and pension plans, travel and meal re-imbursement and much more.

7. DISCOUNTS AND OTHER SUPPLEMENTAL BENEFITS. Other benefits can include discounts on goods and services, bulk postage rates, free or discounted media coverage, and the opportunity to participate in other activities including work study, University research programs, hiring and employee incentive programs and much more.

Prosperity Advisors, Inc. – Making it easier for you to start a non-profit.

admin — Mon, 19 Sep 2011 18:20:18 +0000

Welcome to Prosperity Advisors, Inc.

Forming a non-profit has never been easier. Our experts will guide you every step of the way. From the incorporation process, to the organizational requirements, through the IRS application process, Non Profit Advisor Group, Inc. will assist you in meeting your goals. Our Team of experts including, EA’s, CPA’s, Attorneys and Financial Advisors are all available to you while you are forming your non-profit corporation. Knowing the rules is important, and Non Profit Advisor Group, Inc. will get your organization started in the right direction and keep you in compliance!

Charitable Mission

100% Money Back Guarantee

In the event that the Internal Revenue Service fails to grant determination of tax exemption to the client and after all appeals have proven unsuccessful, provided the client has completed all necessary terms and conditions, the client shall be entitled to a complete refund of the fees paid to Prosperity Advisors, Inc. for the applicable service.