Author: Muhammad Babangida

Giving Back To The Community

On May 17, 2017

In Community Engagement, Muhammad Babangida, Philanthropy

Our immediate or extended environment is a source of success, happiness and much more. Whether one owns a business or works as a salaried person, he or she is largely dependent on the society for fulfilling his/her professional and personal needs.

Hence It is rather imperative and necessary that we share some part of our success, happiness and gains with the society. While many would see it as a nice gesture, the value that “giving” towards non-profit reasons would generate is priceless.

When you want to do something for your immediate or the larger society, there is no dearth of opportunities. Below are a few tips and ideas that will help you be happier, valued and reputed through the act of giving and donation-making.

In-Kind Donations

There are many things and items that we do not need, and they are there occupying our precious space. The best way of getting rid of such items is to donate them to those who can actually use them or to someone who is in need of them. Clothes, utensils, old electronics… the list of items that you can dispose at this very moment can be extensive if you could just look for them.

Fundraising For Solving A Crisis That Affects A Society

The recent trend towards societal donation now is to solve an actual crisis faced by a community. Many different organizations (both “for” and “non” profit), community members and groups and even public agencies collaborate and link with each other and do the fundraising rounds. The cash and resources generated are used in order to solve a problem or crisis that one segment or the whole of the society faces. While you need more efforts, planning and time here, the results have far-reaching consequences.

When you want to make it short, you can also indulge in the shorter “donation drives” and can generate some donations at the public and private functions by having your own private stall or canopy.

Prizing Those Who Deserve It

Donation can also be made towards the meritorious scholars, police/fire/ military/ health care and other staff and members and other personnel and agencies that have done some extraordinary work within the society. Those who indulge in the disaster-relief operations also need more resources, and you can extend your charity towards the victims of flood, earthquake and other disasters as well.

Financial Philanthropy

Both businessmen and individuals can actually donate cash and can indulge in financial philanthropy if their needs have been fulfilled and there are humongous profits and gains respectively.

For businesses, this gesture can be very fruitful in the long run as the society views the organizations favorably who actually do something for the poorest that also make a part of it. The business that donates cash will get an instant media coverage, an excellent PR coverage, and will be better involved within the community. Finances can also be donated to a charity organization or a local NGO (Non-Government Organization).

Fundraising Topics to Know

By Muhammad Babangida

On May 12, 2017

In Muhammad Babangida, Philanthropy

The fundraising landscape is changing rapidly. Some of those changes make raising funds more challenging, but there are new tools to use and resources to access too. Based on media coverage from the past year, let’s look at the five fundraising topics you’ll need to master to have success this year.

Donor-Advised Funds

Donor-advised funds, which are vehicles used by corporations and other groups to distribute charitable donations, account for a significant portion of all donations, and that amount is only trending upward. Even individuals and families are participating in these funds now as a means of helping others in a safe, productive and simple way. These funds often have application processes and other requirements, and learning how to request money through these channels successfully is crucial moving forward.

Sizable Donations from Major Donors

A large percentage of all donations are made by a very small group. This group comprises the biggest donors, and the competition for their gifts is fierce. Just as you must learn to navigate the channels of donor-advised funds, you must learn what big donors want, how to compete for those gifts and how to retain that charity once you have it.

Crowdfunding

In the opener, we mentioned the changing landscape of fundraising, and social media on the Internet, and in particular crowdfunding, is the leading cause of that change. This platform provides you access to more financial resources and a wider audience, and when a crowdfunding effort is successful, it can go viral and grow at a rapid pace. The environment is also quite different than from traditional fundraising, and it often requires rethinking our approach.

Fundraising at Year-End

The key to fundraising successfully on a consistent basis is having a strong push to end the year. The final quarter of the calendar year is when the majority of donations happen. This is when organizations and even individuals know how much financial flexibility they have before reaching the write-off cap. Year-end fundraising is so important that you should begin planning for the next one now.

Fundraising Outside the Box

A consistent them here is competition. Competition is fierce. You need to distinguish your organization, and you need to engage donors in new and interesting ways. This is more than just putting a clever spin on a bake sale. Nonprofit professionals must analyze their markets and create business strategies just as for-profit professionals do.

Guide to Founding a Charity

By Muhammad Babangida

On May 9, 2017

In Muhammad Babangida, Philanthropy

Section 501(c) (3) of the Internal Revenue Code (IRC) exempts nonprofit charitable groups from taxation, allowing financiers to deduct their donations to the groups while filing tax returns. Here are important steps to follow when starting a certified charity.

1. Know the different types of charity organizations you can start

There are different organizations based on missions. For instance, animal charities are concerned with the welfare of animals. Public charities receive most of the funds from the government while private foundations receive funds from small groups.

2. Confirm if your organization qualifies to be an IRC §501(c)(3) compliant

Your charity must be organized and managed just for “exempt purposes.” The exempt purposes include that the organization should run for public interest only.

3. Name your charity

The name to be used must adhere to rules set and be accepted by the Office of the Secretary of State among other conditions.

4. Set up a mission statement

A mission statement summarizes the importance and purpose of your organization. It is used in the filing of IRS and state files for the entity.

5. Incorporate the organization

This stage involves steps such as naming the corporation, the state of incorporation, and Articles of Incorporation among others.

6. Request a Federal Employer Identification Number (EIN)

In all your communications with the IRS, EIN must be used. An EIN is applied by filling the IRS Form SS-4. You should only apply for an EIN after your company is legally incorporated.

7. File to get tax exempt status

Send the correct IRS files to be considered for tax-exempt status by the federal and state government. You can use IRS FORM 1023-EZ or IRS FORM 1023.

8. Comply with charity regulations in your area

Different states, counties, and cities have different rules for charity organizations. You need to license and file the necessary annual reports.

9. Create a website

A great website enhances the credibility of your charity and ability to raise more funds. Your website should have your mission, testimonials, and charity activities you have undertaken.

10. Insure the charity

Choose the best insurance for your charity. You may need property and general liability coverage.

11. Plan how to raise money

The most difficult thing for many charities is to raise funds. Plan how to use various avenues such as social media and marketing to raise funds.

12. Minimize your costs

Many donors are concerned about how their contributions are used. Keep the administrative costs low to attract more donors.

13. Look for volunteers

Volunteers are crucial as they expand your mission and help in raising funds. The main advantage of volunteers is that they are not paid.

14. Deal with your employees appropriately

This involves offering your employees a fair salary. Look for employees who believe in your mission.

15. Other things

This involves activities like opening a bank account among others.

Welcome!

By Muhammad Babangida

On March 7, 2017

In Muhammad Babangida, Philanthropy

Welcome to the official philanthropy website of Muhammad Babangida. Please stay tuned for more updates!