The Internal Revenue Service (IRS) Form 990 is the return for those organizations which are exempt from income tax. It still must be filed. This includes tax year 2009 and tax year 2010, and others of course.
Even though such organizations are not paying taxes, income remains important.
The Internet is a great resource for making extra money for many types of businesses and of course, nonprofits are no exception. There are several ways for nonprofits to make money online including soliciting donations, selling merchandise, and attracting sponsors or visitors.
Using the Internet to solicit donations can be extremely cost effective. A website can provide a user with all the information about an organization including the mission, accomplishments and what any donations would be used for. By being well informed, many people are much more willing to donate money to a good cause or organization. The website can include information how donations by cash or check can be mailed to the nonprofit. To make donations even faster and easier, a checkout can be set up to make donations by credit card or other electronic means, such as PayPal.
Selling merchandise online can also be a windfall for nonprofits. Many people would like a way to show that they support an organization with everything fro a XXL shirt to a coffee mug or other item, but are unable to travel to the nonprofit’s actual location. By offering these things for sale online, people across the country and the world can support the organization through purchases made online.
Finally, because a main issue for many nonprofits is attracting larger sponsors or visitors to their museums or other locations, a website can provide a great way to attract these people. Providing information about a nonprofit online will make sure it gets included in search engines like Bing or Google. Also, it can answer questions about the nonprofit that people will want to know before visiting or committing any money. Online your organization can publicize that you are having a benefit selling cheap prom dresses, for instance.
Remember to use the Internet to its best advantage by providing extensive and detailed information about your nonprofit on its website. This will attract money in ways you never thought possible before, and making money online will be wonderful.