Making the decision to establish or participate in a charitable foundation can be tough, especially in light of the many financial variables affecting associations in today's economic times. The resources presented below can help facilitate this decision-making process. You will find information pertaining to tax and legal issues, fundraising, as well as general tips on how to start a non-profit. You'll also discover a wide assortment of useful web sites as well as many valuable resources available from NAR.

What Is a Donor Bill of Rights?

A Donor Bill of Rights is a set of standards created by a group of professional fundraising societies for nonprofits to generate confidence between donors and donees. Board members of nonprofits should embrace these fundraising standards and also make certain that the development staff of their organization is familiar with a Donor Bill of Rights.

A Donor Bill of Rights helps leaders understand the donor expectations while bolstering donor confidence. It also outlines the donor's right to receive proper recognition, gain access to the organization's financial statements, obtain information on how funds are being distributed, and stay anonymous if desired.

A full text is available at Donor Bill of Rights.

Source: Association of Fundraising Professionals

Starting Out

How to Start a Non-Profit (National Council of Non-Profits, 2026)

“The pages in this section of the National Council of Nonprofits’ website walk you through some of the questions to ask before starting a nonprofit, filings you’ll need to complete at the federal and state levels, and the standard policies and procedures that you may want your new nonprofit to have in place.”

Legal Pros & Cons of Establishing a Charitable Foundation (National Association of REALTORS®, Oct. 24, 2016)

Establishing a Local REALTORS® Relief Foundation  (National Association of REALTORS®)

“State or local REALTOR® associations or Institute, Society or Council members (ISCs) may apply for participation in the RRF program to avoid the overhead costs associated with establishing and operating an independent 501(c)(3) charitable organization.” See the Agreements, forms, and program outlines for establishing a local RRF Foundation.

Tax & Legal Issues

IRS: Tax Information for Charities and Other Non-profits (Internal Revenue Service, Jan. 25, 2026)

Information, forms, and definitions from the IRS for different types of charities, nonprofits, and tax exempt organization.

Legal Responsibilities of Nonprofit Boards (National Association of REALTORS®)

“Under well-established principles of nonprofit corporation law, a board member must meet certain standards of conduct and attention in carrying out his or her responsibilities to the organization. Several states have statutes adopting some variation of these duties, which would be used in court to determine whether a board member acted improperly. These standards are usually described as the duty of care, the duty of loyalty and the duty of obedience. Additionally board members have fiduciary responsibilities to the association.”

IRS Form 990 Reporting Rules for Nonprofits (National Association of REALTORS®)

“The Internal Revenue Service released an updated version of Form 990 for Tax-Exempt Organizations back in 2014. Get the latest IRS information and find out how this update continues to affect your organization.”

4 Simple Steps to Raising All the Money Your Non-Profit Needs (Foundation Group Blog, Apr. 11, 2017)

Useful Websites

Association of Fundraising Professionals

Council on Foundations

The Internal Revenue Service

National Philanthropic Trust

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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Legal Pros and Cons of Establishing a Charitable Organization

Now that every association is required to conduct community outreach under the Core Standards program, many are establishing separate charitable organizations to better manage their efforts.

Learn more