What Is Needed to Start a Non-Profit Organization'?

Nonprofit organizations are the businessman's solution to meeting specific needs that would not normally lend themselves to a business approach. They also facilitate how government can work to assist with many more needs than would be possible under a large bureaucracy. The time and generosity of individuals and for-profit concerns likewise are granted an outlet through this business model. Below is a quick reference guide to start your own nonprofit organization.

Decide what need your company will fulfill

Hospitals treat illnesses, zoos care for animals and try to help endangered species survive, churches help with spiritual and social needs, homeless shelters provide for the necessities for people who have no place to call home.

Determine sources of funding

How will your business support itself? Sources may include government or private grants, donations and/or product sales.

Form the leadership team

Will this be a solo effort or will there be a board of directors to direct operations?

Register the business as a Non-Profit Organization

File articles of incorporation and draft bylaws. File for 501(c)(3) status by procuring and completing form 1023 using publication 557 as instructions, available on the www.IRS.gov website. Apply for a federal employer identification number and state and local tax exemption based on state and local laws.

Comply with charitable solicitation law requirements

Again, local laws may restrict how funds may be raised, so do your homework.

Apply for a non-profit mailing permit

This and other means of saving money are always helpful.

Resources

• NonProfit FAQ

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