A nonprofit organization serves public or mutual benefits and interests. Being a nonprofit does not mean that the organization does not generate profit, but simply that it doesn’t generate revenue for the purpose of harvesting income. They typically serve a scientific, religious, educational, or charitable purpose and, with recognition by the IRS, are tax-exempt. Nonprofits…
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What is the Minority Business Development Agency (MBDA)?
What is the Minority Business Development Agency (MBDA)? An Interview with Alejandra Y. Castillo. The Minority Business Development Agency (MBDA) is part of the Department of Commerce. The Agency’’s mandate is to help strengthen and grow America’s minority owned enterprises. While the Agency provides many services to small businesses, it is not exclusively focused on…
What Can Go Wrong When You Incorporate? An Interview with Deborah Sweeney
Deborah Sweeney is the CEO and owner of MyCorporation, which helps companies file the legal documents for incorporating. In 2009, Intuit was divesting itself of its smaller divisions in order to focus its attention on its core assets, such as TurboTax and Quickbooks. Deborah Sweeney made an offer to buy the MyCorporation division and took…