How 501(c)(8) and 501(c)(3) organizations can collaborate together for good

When most people think of nonprofits, they think of 501(c)3 organizations. Did you know that there are over thirty different types of nonprofit organizations, including 501(c)8 organizations? Today’s guest, Mike Lee, explains how nonprofit leaders can access extra financial resources for their missions, by becoming a member of a 501(c)8.

Rob’s guest, Mike Lee, is the founder of the 501(c)8 Impact Initiative. Their mission is to bring awareness to fraternal benefit societies and the education, resources, and funding that is accessible to everyday people, communities, and nonprofit organizations. These fraternal benefit societies are also known as not-for-profit insurance companies that offer a wide variety of programs to their members.

Mike explains what a 501(c)8 entity is and how it compares to a 501(c)3. He describes different grant programs offered to members of these fraternal benefit societies and how members can then use these funds to support community outreach programs like construction projects, coat drives, etc. Mike gives examples of successful partnerships between 501(c)8 organizations and 501(c)3 organizations, and how the partnerships increase community impact. For those interested in the many benefits offered, Mike describes the simple process of becoming a member by signing up for a life insurance policy. He describes other programs available to members such as discount clubs, testament services, child support programs, and college tuition programs. Mike explains that while 501(c)8 organizations have existed for over 100 years, most people, including nonprofit leaders, have never heard of them. With that said, Mike believes that with more education and outreach efforts, more people will become aware of 501(c)8 organizations.

Mentioned:

501c8 Impact Initiative

Mike’s number: 703-932-5057

This Episode is sponsored by: