Recently, the board of directors for EdVote, a 501 (c) (3), a tax-exempt organization promoting voter education, entered into an agreement with famed singer Charlie Simons record label. In exchange for promoting Charlies recent hit Singing the Puppy Blues, the record label agreed to donate 0.22 cents for every CD sold. Today, your Board President received a call from the company announcing that $5.7 million dollars have been wired to the organization’s bank account as a result of the fundraiser. Simon’s advised the Board President that e has already sent you a revised contract for the next recording, and because of the tremendous response, he decided to increase the percentage donated to your organization. One other note, in order to manage this new influx of donations, your Board President has advised the organization’s daily operations to hire 10 support staff to manage the donation resources. You are a current board member. What do you advise the board?
