Does 501c3 Status Protect Our Homeschool Leaders?

 

What can you do to protect your homeschool group’s leaders?

Does becoming a 501c3 organization help?

In this short podcast episode (12 minutes)  Carol Topp, the HomeschoolCPA, will explains what 501c3 status is and how to protect your leaders.

 

In the show Carol mentioned a Facebook group called I Am a Homeschool Group Leader

She also mentioned some policies for your group to have from HSLDA: https://www.hslda.org/GroupServices/Leaders.aspx/Legal

 

Featured resource

The IRS and Your Homeschool Organization book.

The information in this book has been helpful to homeschool support groups, co-ops, music and sports groups to understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

 

Carol Topp, CPA

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What Does It Take to be a Nonprofit?

 

It takes two things to be a nonprofit. Do you know what they are?

Which one are homeschool leaders doing well and which do they mess up most often?

HomeschoolCPA, Carol Topp, will explain what it takes to be a nonprofit in this short podcast episode (13 minutes).

In the podcast Carol mentioned that she offers consultations with your homeschool group leadership via phone or conference call.

To schedule a private phone consultation with Carol Topp, the Homeschool CPA visit: http://homeschoolcpa.com/services/consultation/

 

 

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The Difference Between Nonprofit and Tax Exempt Status

 

Do you know the difference between nonprofit and tax exempt status?

The difference can be confusing, so HomeschoolCPA, Carol Topp, explains the difference in plain  English and gives a real life example in this podcast episode.

 

 

Featured resource

The IRS and Your Homeschool Organization book.

The information in this book has been helpful to homeschool support groups, co-ops, music and sports groups to understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

Carol Topp, CPA

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What Does a Treasurer Do?

 

Do you think all a treasurer does is write checks? Their job involves a lot more that that! Carol Topp of HomeschoolCPA explains the tasks a treasurer does and why her position needs lots of oversight in this short podcast (14 minutes).

In the podcast Carol mentioned a list of Best Financial Practices for homeschool organizations. Find it at  http://HomeschoolCPA.com/Fraud

 

Carol Topp, CPA has written a book just for homeschool treasurers:

Money Management in a Homeschool Organization

  • Does your homeschool group manage their money well?
  • Do you have a budget and know where the money is spent?
  • Do you know how to prevent fraud?

This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.

 

Carol Topp, CPA

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What Does a Secretary Do?

 

What does the secretary of a nonprofit organization do?

A secretary does a lot more than just record minutes of meetings. Carol Topp of HomeschoolCPA explains the important tasks a secretary does as the keeper of important papers in a homeschool organization in this short podcast episode (13 minutes)

In the podcast Carol mentioned …

Homeschool Organization Board Manual

This manual will help your organization’s secretary assemble all your important papers.

But this is more than just a few cover sheets for your binder. It is also a 55-page board training manual with helpful articles on:

  • Suggested Board Meeting Topic List
  • Board Duties
  • Job Descriptions for Board of Directors
  • What Belongs in the Bylaws?
  • Compensation and Benefits for Board Members
  • and more…

 

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Homeschool Board Duties

 

Did you know the 4 main duties of homeschool board members? They are the duty of care, loyalty, management and compliance.

In this short podcast episode (12 minutes) Carol Topp, the Homeschool CPA, explains what those duties look like in practice. She offers tips and advice to help your board do a better job with their responsibilities in running your homeschool organization.

In the podcast Carol mentioned that you can heave a

Phone Consultation with Carol Topp, CPA

Phone Consultation: A pre-arranged phone call to discuss your questions. My most popular service for homeschool leaders. It’s like having your own homeschool expert CPA on the phone!

Cost: $75/hour to nonprofit organizations.

Q &A by Email:  I am willing to answer questions by email, but it is very time consuming to read and reply to emails. I charge a reduced rate of $50/hour to read and reply to emails.

Contact HomeschoolCPA, Carol Topp, CPA, to arrange a telephone consultation.

 

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We Changed Leaders: Who Do We Notify?

 

Have you changed leaders in your homeschool organization?

In this short podcast episode (12 minutes)  Carol Topp, the HomeschoolCPA, will  explain what government agencies you need to notify when you change your address or change leaders. She explains the forms and organizations you need to notify.

 

In the podcast, Carol mentioned a board manual temple for your homeschool group

Homeschool board  members should keep all their organization’s important papers in a safe and accessible place. Usually, a 3-ring binder works well.

Author and homeschool advisor, Carol Topp, CPA, has created a Homeschool Organization Board Manual. It is a template to create a board member binder. It has:

  • A list of important documents to keep in your binder
  • Section dividers so you can organize the important papers
  • Tools to help you run your meetings smoothly including
  • A sample agenda that you can use over and over again
  • A calendar of board meetings

 

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Giving Scholarships or Discounts in Your Homeschool Group

Does your homeschool group give discounts, scholarships or benevolent gifts?

What’s the difference and how should they be operated?

Homeschool CPA, Carol Topp, offers advice and tips on offering help for needy members in this short podcast episode (15minutes).

 

 

I mentioned my book

Money Management in a Homeschool Organization

  • Does your homeschool group manage their money well?
  • Do you have a budget and know where the money is spent?
  • Do you know how to prevent fraud?

This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.

 

Carol Topp, CPA

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Paying Volunteers Q&A with Homeschool Leaders

 

Can you pay a volunteer?

This short podcast episode (15minutes) from Carol Topp, the HomeschoolCPA, is the last excerpt from the Homeschool Leaders Retreat held in Indiana.

Carol Topp discusses how to pay (or thank) a volunteer and paying teachers in a homeschool co-op without causing tax problems for your volunteers (or your church host).

 

I mentioned my book

Paying Workers in a Homeschool Organization

Are you paying workers in your homeschool organization?

  • Can a volunteer be paid?
  • Should a worker be treated as an employee or independent contractor?
  • Do you know the difference?

Homeschool leader and CPA, Carol Topp, has the answers to your questions in her book Paying Workers in a Homeschool Organization.

This 130 page book covers paying workers as employees or independent contractors. There are also chapters on paying volunteers and board members. It includes sample forms, tips and advice to help you pay workers in accordance with the IRS laws to help your organization pay their workers correctly. Written specifically for homeschool organizations.

 

Carol Topp, CPA

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Tax Exempt Q&A with Homeschool Leaders

 

Have questions about tax exempt status for your homeschool group?

This short podcast episode (16 minutes) from Carol Topp, the HomeschoolCPA,  is an excerpt from the Indiana Homeschool Leaders Retreat. Carol Topp discusses tax exempt status and answers questions from homeschool leaders about self-declaring tax exempt status for your homeschool support group.

 

 

In the podcast I mentioned my book

The IRS and Your Homeschool Organization

Does your homeschool group need to pay taxes? Could they avoid paying taxes by being a 501c3 tax exempt organization? Do you know the pros and cons of 501c3 status? Do you know what 501c3 status could mean for your homeschool group?

I have the answers for you in my book The IRS and Your Homeschool Organization. The information I share in my book has been helpful to homeschool support groups, co-ops, music and sports groups and will help you understand:

  • The benefits of 501c3 status
  • The disadvantages too!
  • What it takes to make the IRS happy
  • What your state requires
  • Why your organization should consider becoming a nonprofit corporation
  • What is the difference between nonprofit incorporation and tax exemption
  • IRS requirements after you are tax exempt

 

Carol Topp, CPA

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