Projects often have to make large capital expenditures to acquire equipment (including laptops, computers, monitors, keyboards, printers, etc.), furniture, and other needed fixed assets. All of your project’s assets, whether acquired as donations or through capital expenditures, become and remain the property of Community Partners for the benefit of your project. If your project separates from Community Partners, ownership of those assets are transferred to the successor 501(c)(3) organization, subject to the approval of the Community Partners Board of Directors as the fiduciary body responsible for the charitable expenditure of organizational funds.
Articles in this section
- What should we do when we receive money?
- How are checks for my project handled by Community Partners?
- What are the revenue codes?
- How do we accept online donations?
- Can we accept cash?
- Can we have a separate bank account for our project?
- Who acknowledges contributions?
- What if a donor gives a donation in exchange for something in return?
- Can we accept in-kind donations?
- Can we accept car donations?