In 2019, the Wilson Commerce Foundation was started by the Wilson Chamber of Commerce, in part, to incubate charitable initiatives in Wilson.  The Chamber recognized that there were a number of charitable causes in the community that could be addressed by willing partners who otherwise lacked the resources or capacity to start their own nonprofit organization.  These prospective partners want to help resolve a community issue, and likely have a plan for execution, but don’t have the framework to govern an organization or manage fundraising.  The Foundation provides that framework.  Here’s how:
 

• Create a scope of work for your charitable initiative.  Define the problem you want to help resolve and a plan for how to fix it.
• Engage in a Memorandum of Understanding (MOU) with the Wilson Commerce Foundation.  This MOU sets the terms of partnership.
• Most MOUs are fixed for 12 months, during which charitable initiatives can determine whether starting their own tax-exempt nonprofit organization is feasible.  After a year, the initiative can start as its own nonprofit, cease programming, or renew their MOU with the Foundation.
• While engaged in the MOU, you can use the Foundation’s tax-exempt status to receive contributions, and your donors can enjoy tax-advantaged giving.  The Foundation can even set up a secure online portal to receive donations directly through your website.
• The Foundation will restrict your funds for the dedicated purpose of your charitable initiative, while maintaining accurate financial records and making distributions at your direction.
• The Foundation charges a nominal management fee only on contributions received on your behalf.

 
If you want to begin a charitable initiative and help fill a community need but aren’t ready to start your own nonprofit, contact the Wilson Commerce Foundation at 252-237-0165.