If you have a good idea about starting a nonprofit organization in your local community, you may think that most of your work is already completed. However, creating a nonprofit is more than just having a great idea on paper. You have to put it into practice, and that includes making a detailed list of all the formalities that you’ll have to handle in order to bring your idea to life.
Research the Work Done in Your Community
You won’t be able to get any kind of support by duplicating the work already performed by many other organizations in your community. This is precisely why, before filing your documents to formalize the creation of your nonprofit, you need to do some painstaking research on exactly what the needs of your community are with regards to the benefits your organization can bring, and which tasks and activities you should stay away from.
Once you finish your research, you will be able to create a reliable, responsive, diversified and unique set of services that people will be entirely open to.
Formalization Steps
Three important steps are required for making sure your nonprofit is operating legally and legitimately, in accordance with state and federal rules:
- First you need to locate your state government website, and look up the specifics regarding the articles you need to file with your Secretary of State or other state agency that may be appropriate in your case.
- Apply for tax exempt status. For this purpose, you need to check the IRS official website for the 501(c) category your organization will fall under, and file either the 1023 or 1024 application form. Note that it could take up to a year for the IRS to make its decision.
- Finally, register with all the states where you plan on organizing your fundraising activities.
If you take the time to learn more about these basic steps and file the appropriate paperwork, you will be off to a flying start with your new nonprofit. As you proceed, please give us a call so we can help you realize your dream.
To learn more about how our firm can serve your nonprofit organization, don’t hesitate to contact Kathy Corcoran at (302) 254-8240.
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