Starting a Nonprofit
I recently received an email from Nancy Winton from CCPRC that included some basic steps for starting a nonprofit organization. In the past couple of months I have seen a significant increase in the number of inquiries into starting a nonprofit organization. In these times of economic turmoil it is reassuring to see that so many people are wanting to reach out. However, as those that have already formed a nonprofit are well aware, this is a pretty involved process. I wanted to share these basic steps with you and let everyone know that I am planning a more involved workshop in the very near future. I'd love to have your input on any other workshop topics you would like to see this year.
Forming a new non profit is a process that involves two distinct steps:
First, file the Articles of Incorporation for nonprofit corporations with the appropriate state agency which is usually the Department of the Secretary of State.
Second, file form 1023 Application for Recognition of Exemption under section 501(c)(3) of the internal revenue code.
Key items you will need to file form 1023 are
Forming a new non profit is a process that involves two distinct steps:
First, file the Articles of Incorporation for nonprofit corporations with the appropriate state agency which is usually the Department of the Secretary of State.
Second, file form 1023 Application for Recognition of Exemption under section 501(c)(3) of the internal revenue code.
Key items you will need to file form 1023 are
- Employer Identification Number
- At least 3-5 board members
- Bylaws
- A 3-4 year budget
- Date of incorporation from the state.
Be prepared to pay a filing fee of $60 for the Articles of Incorporation and from $300 to $750 for the Application for Recognition of Exemption.
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