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
About the Author
CEO & Founding Trademark Attorney at Indie Law®
Joey Vitale is the CEO & Founding Trademark Attorney at Indie Law, a trademark law firm that helps you get peace of mind knowing you legally own your brand. He and his team are on a mission to be the best brand protectors they can be, and they’ve filed well over 2,500 trademarks. In addition to being an award-winning attorney, Joey is an internationally renowned speaker and the host of the chart-topping podcast, The Passive Income Lawyer. Learn more →