How to Start Your 501(c) (3) Nonprofit
Organization
There are many things you have to do in addition to providing your
services.
What do we mean by
a 501(c)(3) Nonprofit Organization.
The term nonprofit organization refer to groups whose primary purpose is to
support some issue or matter of public concern or private interest (the arts,
charities, politics, education, religion, sports and research) but
noncommercial purpose and which are exempt from income tax under Section 501(c)(3).
The nonprofit sector is much larger and more influential
than most people would believe. There are more than 2 million nonprofit
organizations. Nonprofits contribute more than 8% of the gross Domestic Product
and employ over 10% of the workforce. Nonprofit organizations play a very
important role in our society. Many time nonprofit organizations fill needs in
communities where government and big businesses have failed.
This is a very critical time for nonprofit as well as the
country. It is very important that you ask the question “Should you start a nonprofit” and “why are you starting a nonprofit” in these tough economical time?
If you have given full consider to these questions and you answer the first
question in the affirmative then go ahead and start your nonprofit
organization.
Here is my simple straight forward advice and guide to help
you start a successful 501(c) (3) Nonprofit
Organization.You should at least consult with a professional who is
experienced in the area of nonprofit development so that you do not waste a lot
of time and money by making one of various mistakes that are usually made by
people whom attempt to incorporate and obtain 501(c)(3) status by themselves.Starting a nonprofit business can be very rewarding but also a very difficult
process.
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- First and foremost you must
make sure that your incorporation paper and other documentations are properly
in order to obtain tax-exempt status.
- You must also hire, train and manage your
staff while also complying with state and federal regulations.
- You must develop
a business plan and a market strategy.
There is and will be a lot of
competition for those scarce funds that are available. It is imperative that
you get off on the right foot.
Your nonprofit
organization start with a mission plan.Your mission plan or idea should be
reduced to writing.Your writing should incorporate how you are going to reach
your mission. A nonprofit organization must exist to accomplish a specify
mission. Your mission statement should be developed based upon your purpose,
services and the values of your organization. The mission statement should be a
very brief and concise statement that states in a few sentences what your
organization does, whom its serve and where it provide services. The mission
statement must be put together well because it should be included in all your
organization publications, funding and public relation materials. Your mission
statement should tell why your organization is unique from others. It’s a good
idea to include your mission statement in your Articles of Incorporation.
As a nonprofit start-up service we can help you
with many of your start-up solutions, so you can focus on the services and other
things that can help your organization reach its goals and mission. Below are
some of our key nonprofit start-up services and solutions to help you start your nonprofit.
The start-up requirements necessary
to initiate your nonprofit organization and maintain compliance with government
regulations:
- Select a business name.
- Search for a similar domain
name.
- Reserve name with the secretary
of state.
- Obtain a local business license
if applicable.
- You need 3 people to sign the Articles of
Incorporation as officers. You must have at least 3 members on you Board
of Directors (can be the same 3 people).
- · Prepare
And File Articles of Incorporation.
- Prepare And Adopt Bylaws.
- Obtain EIN
- Obtain 501c3 tax-exempt status
- Prepare And Maintain First
Minutes of Your First Meeting of Board of Directors.
- Prepare and File Form 1023
(Federal Tax Exemption).
- Prepare And File For State Tax
Exemption.
- Prepare and File Initial Solicitation
Registration.
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On
an ongoing basis, in order to maintain your good standing, most organizations
will have to do the following:
- Prepare Annual Minutes.
- Prepare and File Annual
Solicitation Report.
- Prepare and File Statement of
Information/ Annual Report.
- Prepare and File IRS Form 990
and STATE TAX Form.
Note:
It is important to file your 1023 within 27 months from the date when your
Articles of Incorporation were filed. Missing the deadline may result in your
organization not receiving 501(c)(3)
recognition retroactive to its incorporation date.
Tips:
- Board
member: Look for people whose values reflect your organization values. Include
a diverse group of board member that includes the community at large such as
businesses, professionals, institutions, consumers, religious and political
leaders. Do not include people who already serve on many committees and board.
Seek out new and young leaders in the community.
- Open
a bank account: Determine whether to use the accrual or cash method of accounting.
- Corporate
images: Design a logo, color scheme, tagline and other images that help clearly
distinguish your organization from other and reflect the values and mission of
your organization.
- You
should secure a domain name that matches your organization name. You should
develop a website and a blog.
- Market
your organization: Your organization must learn and utilize all of the
available marketing tools including internet marketing.
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The online consultant service provides affordable online email assistance as low as $45/per email consultation. You
can usually receive an email reply within 48 normal business hours. Why
waste the time and expenses associated with the usual in-office visit
when you can receive an answer to your question on-line. Have questions? Contact us at the consultation form button for your email consultation.
See product page for our 50 Frequently Asked Questions booklet available for sale!
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