98% of Portland’s 19,200 neighborhood businesses have 5 or fewer employees but provide more than 270,000 jobs. These small businesses create and keep more local … Keep Reading ››
Catalytic Grant: Corporate Infrastructure Improvement
Volunteer-run organizations depend on stability to maintain programming and remain legal and sustainable. Venture Portland is offering Catalytic grant funds to help districts implement corporate infrastructure improvements that protect board members and ensure that districts meet the requirements of state and federal governments.
Key components of infrastructure include:
- Non-profit Status (501(c)3, 501(c)6): IRS tax exemption designation for business associations; especially important for districts with revenue of $50,000 or more.
- Insurance (Directors and Officers, Liability): protects board members from legal action brought for alleged wrongful acts during their service to the organization.
- Articles of Incorporation: filed with the State of Oregon and cover mission, corporation type, dissolution and fiscal year.
- Bylaws: how your organization runs including members, directors, officers, elections, voting, meetings, committees, etc. These should be reviewed and updated on an annual basis.
- Policies: day-to-day actions including anti-discrimination, anti-harassment, confidentiality, conflict of interest, whistleblower, etc.