Citizen scientist findings about HEMP food, fiber, farm + flower in NC; more natural HEALTH CARE training; less industry death scare shenanigans.
Thursday, August 26, 2010
How to Motivate Creative Knowledge Workers
Tuesday, August 24, 2010
How to Have an Original Idea
Saturday, July 24, 2010
Thursday, July 1, 2010
Couture iPad Clutch
Not mad at 'em. I want one; very chic... but somehow I think I'd repurpose the clutch as a REALLY fancy memo pad protector since I'm not that good at the one-handed typing required to be productive and actually get work done on an iPad.
Lorrinda S. Michieka, MBA, PMP® www.movemymountain.com Business IT Solutions
Thursday, May 20, 2010
Obtaining Nonprofit 501c3
Obtaining non-profit status (your 501c3) is not hard, but it does require a significant time commitment and some of the same skills and exercises it takes to write a business plan.
1. Register assumed business name at Register of Deeds - ~$30 • Decide Registered Agent
2. Form business entity with Secretary of State’s Office - $125+
• Inc. - Articles of Incorporation details business purpose. a) Do yourself or hire business attorney. b) Samples available. c) NC Secretary of State Form B-01 • Separate personal and corporate assets, i.e., bank accounts, inventory, etc.
• QuickBooks Simple-Start accounting software is free. • If LLC – Articles of Organization a) Single member LLC possible. b) Multi-member, Manager-Managed (popular) • Board of Directors, Bylaws, Operating Agreement, Shareholder Agreement, etc. a) The Board of Directors and not management ultimately responsible for the organization’s performance (fulfilling the mission). • Possible to get 501c3 w/o Inc or LLC, but unusual.
3. IRS Form SS-4 (Application for Employer Identification Number) • Quicker & instant if done online (~15 min.) • IRS Time Estimate: 10 Hours 10 Minutes. • EIN & Articles of Incorporation needed to open business bank account. Some banks offer free business checking.
4. IRS Form 253 (Election by a Small Business Corporation). • S-Corp Election – taxed to shareholder vs corporate itself. • IRS Form 2553 – Time estimate: 16 Hours 22 Minutes.
5. File IRS Form 1023 (with IRS - ~$800 • 30 page form (without schedules & attachments) – like writing a business plan • 100 hour estimate to complete a) 2-9 month IRS approval time: Initial Response, Follow-up Q&A, Determination Letter, etc.
6. Apply for NC Dept of Revenue tax exemption
7. Request NC Charitable Solicitation Letter
8. Annual file IRS Form 990 (Return of Organization Exempt From Income Tax)
9. Industry buzz words: • Trust, accountability, transparency & performance.
10. Unlimited pro-bono legal assistance may available for low-wealth organizations. NC LEAP is non-profit arm of NC Bar Association. • Mary Horowitz, Director • http://ncleap.ncbar.org/ • Not as many pro-bono opportunities for non-profits.
SOURCES:
Martin, Marty, JD MPA. (2010, May 20). Starting a Non-Profit. Presentation given at Cameron Village Regional Library, Raleigh, NC.
Matt Cunningham, Esq. (2010, May 18). Choosing Forming and Maintaining A New Business Structure. Presentation given at Raleigh Business and Technology Center/NC LEAP, Raleigh, NC.
BizFilings – The Small Business Incorporation Experts. (n.d.). Filing for Tax-Exempt Status for Non-Profits. Retrieved May 20, 2010 from http://www.bizfilings.com/learn/tax-exempt-nonprofit.aspx .
Mary Horowitz, Esq. (2010, May 4). Applying for Pro-Bono Assistance. Presentation given at Raleigh Business and Technology Center/NC LEAP, Raleigh, NC. --Lorrinda S. Michieka, MBA, PMP movemymountain.com
Thursday, March 4, 2010
Monday, February 8, 2010
Some Things You Must Do Yourself
Laughs with Mom: True story. I bought some nail polish off the clearance rack at CVS drug store... Milani... only 87 cents woo hoo! Got home and it was actually lipstick; totally NOT my shade. I said, "I love that color so much that I'm going to find a nail polish that color." I thought a while about this, knowing that I really don't like to shop and said, "I'm lying... I know good and well that I'll never actually do that. Mom said, "You better quit that lying so you can make it into the kingdom." I said, "You going?" "Sure am," says Mom. I said, "Can I ride?" ...we shared by biggest laugh. :-)
Some things you just must do for yourself.
