Tips for Getting Started
Are you interested in an effective way to benefit your community or the world? Have you considered operating a non-profit organization, also known as a charitable organization? As a non-profit organization you can still make a profit, however, its sole function must continue to focus on its “original” benefit and/or purpose of its operation. As a non-profit organization you should be able to qualify for federal tax exemption under the 501(c) (3) IRS rule.
Here are some things to consider in opening and operating a non-profit organization:
- What are your organization’s focus, mission, goals and/or objective?
- Who should your organization service?
- Does the organization’s name fit your market brand?
- Does your logo and tagline “speak volumes” for your organization?
- Where should the oganization be located?
- What is your organization’s niche?
- Do you have a team to fully execute the organization’s focus, mission, goals and/or objective?
- Attorney – (obtain an attorney that specializes in non-profit organizations), for the legalities of operating as a non-profit organization and its benefits, articles of incorporation, structure, legal requirements including what is required to keep tax exempt status active and how to comply with the tax obligations
- Bookkeeper or Accountant – create and maintain operating budget and accounting system
- Board of Directors and/or Advisory Board – to offer guidance, assist with structure and bylaws, administrative operations, and other pertinent information to help manage a successful business
- Fundraising Specialist and Grant Writer – to help maintain and solicit capital and resources to fund your organization
- What to look for in an effective team member?
- Do they fully understand your organization’s focus, mission and/or objective?
- Can they help you to effectively execute the organization’s goals?
- Do they value your organization?
- Make sure that your Board of Directors and/or Advisory Board consist of a diverse mix from the community, consumer, and professional entities, this would offer your organization a more well rounded focus
IRS are now offering workshops on how to own and operate a non-profit (charitable organization) visit their website www.irs.gov/charities to find the location, date and time nearest you.
Vernita Naylor, Ft. Worth SCORE
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