nonprofit organization

Rules & Regulations Governing Charity Organizations

Starting a charity organization can be tricky considering that unlike other business, they are not there to make profits. In light of these challenges, Ira Riklis, who runs prides himself in helping charity organization start before other sponsors come on board. The operations of all charity organizations are highly regulated considering that they are often exempted from taxes.

State Laws

charity walk

State laws govern charity or nonprofit organizations. Ideally, these organizations are formed and operated under the laws of the state or country where the organization is registered. Every state has a statute that regulates and governs the operations of nonprofit organizations. Unlike other business entities, neither the individuals that started it nor those who run it should profit directly from the operations of the organizations.

State laws explicitly set out how these organizations should be run, who runs it, and what happens when the management decides to wind up. In this regard, if you have any intention of starting or running a charity organization, reviewing the state’s statute governing charity organizations is key. See to it that you comply with each requirement right from the onset.

Tax Regulations

Nonprofit organizations work under many designations. In light of this fact, different states have unique taxations exemptions for various charitable organizations. Ideally, to be exempted from tax, the organization is expected to devote itself to activities that are not conducted for a profit. Ideally, no earnings besides salaries should personally benefit directors, employees, and key individuals. For instance, a charity organization is expected to conduct its activity in a way that benefits or empowers others for free before they can be approved for tax exemptions.

Incorporation Requirements

The rules of incorporating a charity organization are somewhat similar to those needed to start a company. As such, individuals starting nonprofits are expected to file things like articles of incorporation and other documents needed to start with the secretary of state or the body responsible for regulating business.

raising charity fundsFundraising Rules

Since charity organizations offer their services freely, they rely on donations to run their operations. Specific rules exist to both the donor and the organization receiving the funds. This way, charity organizations are expected to register all their fundraising activities. Fundraising registration serves to protect donors and the public from fraudulent activities or deceptive charities.

Starting a charity organization requires the team behind this initiative to comply with every law governing the operation of nonprofit. If you are planning to give back to the society by staring a charity organization, you have to play by the rules.…

money safe

Factors to Consider when Taking a Loan

The demand for money and its supply can never be the same. This means that one will never have as much as they want to spend. The desire to achieve more and more is limited by the availability of money. The bridge between the shortage in the demand and supply of money is the availability financing by debts. Many people have succeeded in life through taking loans to finance projects and latter using the revenue in repaying the debts. The success of a person in repaying the loan will be determined by the how well he was able to analyze the possibilities of success and failure in the endeavor. What are the factors to consider when taking a loan?

 

signSource of the Loan

The first factor to consider is the source of the debt capital. There are some possible sources of loans. The most common source of loan is the banks. Commercial banks engage in the business of giving potential customers loans. The loan is paid after an agreed time. The banks are known to give the very cheap loan to customers. The second source of loan is the corporative organization. This is institutions where members are allowed to save for some months and then given a loan depending on the amount of saving. For one to get a loan from such an organization, one has to be a member. Online platforms are also possible sources of loans. Some banks give out loans through an online portal. This has been a common trend in the banking industry. Apart from banks, some companies solely deals with the provision of online debts to the customer. They operate in websites and applications. The best example of such a company is the Nordiclenders.com

 

The Cost of Borrowing

The cost of borrowing the money more than the principle that one is required to repay upon taking a loan. The cost of borrowing is determined by the source of the loan as well as the amount of the loan. Loans that are payable within a long period are generally cheaper than those payable within a short period. Loans from saving cooperatives are the cheapest to take. This is because these institutions are exempted from paying any tax from the interest payable from loans. The cost of borrowing should be the main factor to consider when taking a loan. Don’t take a loan that attracts a large interest. It is economically advisable to take up a loan whose cost is above 25% per annum.

 

moneyThe Purpose of Taking the Loan

What is the main reason for taking the loan? Any loan should be used to finance an income generating investment. A loan should never be used to pay other obligations. Using a loan to pay other obligations adds the cost of borrowing. Always ascertain the economic viability of a project before you decide to take a loan to finance it. Consider the possible alternative financing options and calculate the addition or reduction in the cost of financing.…

intellectual property law

Effective ways of Intellectual Property Protection

Intellectual property can be defined as a number of diverse kinds of ideas or creations of the mind for which a set of exclusive rights are acknowledged and can be legally protected.

With the great strides in technology over the years, the internet has made information constantly and readily available. Creative materials such as music, poems, articles, pictures etc. can now be easily found on the internet, but the ease in which they can be copied or downloaded illegally or without authorization has led to owners of these properties counting lots of losses from their works.

The World Intellectual Property Organization (WIPO), an arm under the United Nations was tasked with the obligation of setting up laws to protect intellectual property all over the world. World Intellectual Property Organization established that intellectual property shall include but not limited to:intellectual property protection

  1. Scientific findings.
  2. Industrial designs.
  3. Works of performing artists, broadcasts and phonograms.
  4. Discoveries in all fields of human ventures.
  5. Pieces of literature, scientific and artistic works.
  6. Trademarks, commercial and service names, and names of designations.

Intellectual property laws are divided into several categories:

  1. Copyright: Basically, includes legit creative e.g. music, poems, works of art, computer programs etc.
  2. Trademark: This includes patents, industrial designs, logos, and names that are used to identify a business product or service.
  3. Image Rights or Right to Publicity: This refers to a person’s image or name. The image rights ensure that an individual’s name or image cannot be used to commercially promote a product or service without the owner’s consent.
  4. The right of Privacy: Even though it is a bit slack in relation to intellectual property, the right of privacy can be used to protect against republishing online content e.g. blogs that may say contain private facts.
  5. Trade Secrets: This involves business secrets or sensitive information about a business that if leaked out could give other competitors an edge over them.

In the electronic world, it is always wise and important to protect your intellectual property. This can be achieved in a number of ways as mentionedsecured intellectual property below:

  1. Clearly label your works or content for easy identification, either through a copyright or some notice that you own it.
  2. Do not distribute or allow third parties access to download or acquire property that does not belong to you. Place in guidelines or company policies.
  3. Take the initiative to pursue individuals who infringe your copyrights legally.
  4. Always remember to cite accordingly if borrowing literary information and also credit sources of digital content.
child lawyer

Role of Local Authority in Child Welfare

The local authority is tasked with the obligation of protecting children welfare. Under the Family and Law of Child are:

  1. Child Support Act,
  2. Financial Orders for Children
  3. The enforcement of financial obligations to a child or children.

Should issues arise of child abuse, the local authority is bound to get involved with the family in question. In extreme cases where the child is in danger, the local authority has a jurisdiction to commence investigations into the matter.

There are a couple of ways through which the local authority can be involved in cases where the child’s welfare is at stake. The following people canplaying child report instances of child abuse to the local authority:

  • A neighbor or friend.
  • The child himself/herself.
  • The police.
  • Any member related to the child’s family.
  • Teachers or members of staff within the child’s school.
  • The child’s doctor.

After a case of abuse of child welfare has been reported, social workers within the local authority should come up with a decision as soon as possible on what actions need be undertaken. The agreed-upon measures must be told to the person who has reported the case of child abuse.

Should the social workers determine that auxiliary action is required, investigations should commence. According to the law, investigations should not take more than forty-five working days starting from the date when the case was first reported. The duration of investigation is subject to taking into account the risk at which the child stands, should it be seen that the child is at more risk, investigations may need to be done more quickly.

After finalizing the investigations, the social workers will then decide on whether further action is required or not. Examples of decisions that they could make are:

  1. Keep tabs on the situation and offer constant support.
  2. Call for a child protection conference.

Child protection conference is a joint meeting comprising of people concerned about the child’s welfare e.g., parents, social worker investigating the case, the child’s doctor or teacher. Their primary objective is to decide on what is best for the child. Some of the decisions that a child protectionhappy child conference can make are:

  1. Document a protection plan on what steps and actions need be done to protect the child’s welfare.
  2. Request for a court supervision order, this means that the social worker will play a significant role in the child’s life ensuring that she or he is well taken care of.
  3. Commence court action to take the child under the care of a social services program.