Starting up a non-profit requires that you feel passionate about the mission of your non-profit. However, you will also need to rely on services that can assist you in getting your non-profit off the ground. You will need to take steps to cover all of your legal bases and also come up with a strategic plan.
The Entity Structure
You must determine the type of entity structure because this will have tax implications. You will need documents that have clauses required by the IRS, and you will need to make sure that your non-profit is only engaging in exempt activities. For example, you will not be allowed to engage in activities that are not charitable.
You will also need the correct dissolution language. If you are concerned with whether the structure of your non-profit is meeting all your legal obligations, you should speak with non-profit legal services. The legal services will also file articles of incorporation on your behalf.
If one of your goals is to receive grant funding for your non-profit, you'll need legal services that have experience setting up a non-profit for this purpose. You will need to do more than simply pursue a non-profit incorporation status.
You must set up rules for your non-profit known as bylaws, and they must be simple but effective. For example, you will need to determine how many individuals will be on your board and whether you will have term limits for membership.
There are many forms to fill out when you are starting a non-profit organization, and it is easy to become confused. However, an attorney can help you avoid mistakes so you can start your non-profit organization with confidence and can also perform much of the legwork so you can focus on your core responsibilities.
Federal 501(c) Tax Exemption
To receive a tax exemption, you must make sure that you meet all of the requirements. You will want to clarify whether any of your directors are related, how you will fundraise, how funds will be sent internationally, and whether you have a 4-year budget.
Oftentimes, to receive non-profit services, you will simply need to pay a flat fee. Then, every essential step you must follow to start your non-profit organization will be taken care of for you. You will also be provided with other services such as a name search for your non-profit to make sure that your non-profit organization has a unique name.
Reach out to a local non-profit startup service to learn more.
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