FREQUENTLY ASKED QUESTIONS
Question 1: How much money is available in grant funds?
According to USA Spending.gov, over $342 billion was issued in federal funding last year. According to Foundation Stats, 1,000 of the largest foundations in the US awarded over $22 billion in grant funding. So where is the money? Contact The Harris Agency and we can find your next grant.
Question 2: What types of organizations are eligible for grant funds?
Many will not believe this, but most organizations are eligible for grant funds. For-profit organizations, small businesses, religious/faith-based organizations, nonprofits with and without a tax-exempt status, schools, higher education institutions, government agencies, and individuals. Yes, individuals are eligible for grants as well. However, it is important to note, the funding agency determines which organizations are eligible for funding requests.
Question 3: What is a 501(c)(3)?
The Internal Revenue Service defines a tax-exempt, charitable organization as 501(c)(3). The term “charitable” is broad in definition, and can mean any organization established for religious, educational, literary, scientific, or charitable purposes. This list is not an exhaustive list, but an example of the purposes of a nonprofit with a 501(c)(3).
Question 4: Why should my nonprofit seek tax-exempt status or 501(c)(3) incorporation?
There are many reasons why a nonprofit may seek incorporation. As an incorporated entity, your organization will enjoy the privilege of tax-exempt income for charity related activities and personal liability protection. The other major benefits of seeking incorporation are the solicitation of tax-deductible contributions and securing grant funding. Although for-profits, individuals, and nonprofits without a tax-exempt status can apply for funding, the funding options are very competitive. Contact The Harris Agency today if your organization is ready to take the next step in charitable giving, procuring grant funding, and securing additional protection for stakeholders.
Question 5: The Harris Agency is located in Jackson, TN, but my organization is located out-of-state. Can you assist my organization?
Yes! Thanks to the many technological advances, The Harris Agency serves clients in the West TN area; as well as, clients outside of this area. The Harris Agency will schedule a conference call using a communication medium of the client's choice, and ask a series of questions about the client's request. After the initial consultation, the client may complete an additional needs assessment to gather additional information. After the interview and needs assessment are completed, the client forwards the requested information or documentation, and The Harris Agency moves forth with your request.