SCORE Small Business Blog

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:

1. What are your organization’s focus, mission, goals and/or objective?
2. Who should your organization service?
3. Does the organization’s name fit your market brand?
4. Does your logo and tagline “speak volumes” for your organization?
5. Where should the oganization be located?
6. What is your organization’s niche?
7. 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
8. 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?
9. 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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