Recap:
In this episode of the Owning It Podcast, host Joey C. interviews Shahara Wright, a business attorney specializing in helping entrepreneurs create businesses that give back to their communities. They discuss the different legal structures available for entrepreneurs who want to make an impact, such as nonprofits and donor-advised funds (DAFs), and the challenges associated with each.
Shahara emphasizes the importance of thinking carefully before starting a nonprofit, suggesting that some entrepreneurs may want to consider supporting existing organizations instead. They also cover topics like budgeting for charitable contributions, the importance of understanding how nonprofits function, and ways businesses can incorporate giving into their models.
Show Notes:
- 00:00 – Introduction to Shahara Wright and her expertise
- 01:32 – Shahara’s background and how she started her firm
- 03:05 – How Shahara helps businesses grow and structure
- 04:13 – Steps to legally start a nonprofit
- 08:02 – Why entrepreneurs should think carefully before starting a nonprofit
- 11:12 – Tips for budgeting for charitable giving
- 13:00 – Joey’s approach to giving back through One Tree Planted
- 16:00 – Researching and vetting charitable organizations
- 21:00 – Understanding Donor-Advised Funds (DAFs) as an alternative
- 25:00 – How to connect with Shahara Wright: thewrightlawyer.com