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Commercial co-venturers, also known as cause marketers, have become increasingly important partners for charities, but they must approach it with eyes wide open.
To be sure, it’s a great niche. Commercial co-venturers can generate commercial goodwill while simultaneously boosting sales of their products or services and benefitting a charity.
What’s vital to know, however, is that when you work with nonprofits, you step under the umbrella of a plethora of regulations that vary from state to state. In addition, it’s an area of regulation that’s still in the formation phase, meaning requirements often change. Copilevitz Lam & Raney not only stays apprised of current developments but ensures that your efforts are both profitable and risk-free.
If you’re not sure if you fall into this category, basically it includes any person or firm that — on a for-profit basis — regularly conducts charitable sales promotions, or underwrites, arranges or sponsors a sale, performance, or event of any kind that is advertised as benefiting a nonprofit.
From the get-to, a commercial co-venturer must register with the state before starting any campaign, and typically registration must be renewed annually. Dropping the ball here could mean significant fines, criminal penalties, or even having to return all the money — plus damaged reputations. With our comprehensive knowledge of state requirements and the latest forms, we make sure all the boxes are checked. And if there are ongoing requirements or reports, we proactively act on our clients’ behalf to make sure everything gets done.
Contracts often fall under state requirements, as well — and they also can be crafted to protect you. We offer contract development and review, putting ourselves in your shoes to think through contract clauses, and we make sure you comply legally, both in terms of contract provisions and meeting filing deadlines.
Commercial co-ventures are a worthwhile pursuit; make sure you have the right partner to put you on the path to success. Some of the biggest names in the nonprofit world rely on Copilevitz Lam & Raney; we can be a trusted partner for you, too.
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