Nonprofit Myths: #7 - Family Members on the Board MYTH: For my new nonprofit, I will put all family members on the board of directors, and we will control the organization.
Nonprofit Myths: #6 - No Profit for Nonprofits? MYTH: Nonprofits are not allowed to make a profit from their activities.
Nonprofit Myths: #5 - Change to Nonprofit? MYTH: I am going to convert my for-profit business to a nonprofit business.
Nonprofit Myths: #4 - Overhead MYTH: If we’re running our nonprofit efficiently, our overhead and administrative costs should be small.
Nonprofit Myths: #3 - Public Charities MYTH: I am starting a foundation to give out school supplies to kids who cannot afford them. I can’t wait to see their little faces when I give them new backpacks and markers!