Session Overview
We're a newly founded 501c3 nonprofit and have a few questions on tax filing, fundraising registration, salary and general bookkeeping advice:
Do in-kind donations count toward revenue?
We want to provide tuition grants ($250) for students with financial need and scholarships (up to ~$5,000) for students to travel with us on our study tours. How do we account for these in our books?
We’d like to offer financial compensation to our guest lecturers. We’re thinking of a commission-based model, but is commission considered ‘salary’? How about ‘honorarium’ for unpaid volunteer work?
Any general comments the CPA can provide on IRS requirements.
Thank you!
Nonprofit Overview
RISE Travel Institute's mission is to inspire responsible, impactful, sustainable and ethical travel through education. We're a brand-new, female-founded nonprofit with the commitment to engage young people in important conversations around human rights, animal protection and environmental sustainability in the context of travel. Our vision is a world where travel is a force for positive transformation for both travelers and travel destinations. As an education institution, we offer online educational programs in sustainable travel for college students and young professionals, as well as study tours and travel scholarships.