Many desire to start a nonprofit organization, but very few do. One of the main reasons people abandon the idea of starting a nonprofit is the complexity they face in the setup process. Once faced with challenging paperwork, many abandon the set up of the nonprofit they were so passionate about. You can also get the best nonprofit bookkeeping service via https://www.goodstewardfinancialco.com/full-service-bookkeepi
True, the paperwork to start a nonprofit can be challenging, but it is not too difficult so that most can work their way through it. Follow along below and I will give you some tips when starting a nonprofit organization.
When attempting to start a nonprofit organization, many become overwhelmed with the process and paperwork. In actuality, the process of setting up the nonprofit and paperwork is straightforward, but the information needed can be difficult to compile.
Once you know the steps in creating the nonprofit, walking through them is a matter of focus. When I know the steps for something I am going to create, it makes it easier to complete it. Below are the basic steps needed to create a nonprofit.
Basic Steps for Creating a Nonprofit
1. Incorporate a nonprofit corporation in the state where your nonprofit will do business.
2. Obtain an EIN Number (Employer Identification Number).
3. Create By-Laws with which to govern the nonprofit.
4. Open a bank account for the nonprofit.
5. Fill out IRS Form 1023 for tax exemption (this form is difficult and you may want to find expert help).
6. File IRS Form 1023 with the IRS.
7. Educate yourself on fundraising strategies and begin fundraising.
As you can see, the steps are not difficult, except for the IRS Form 1023 which you may want help from an expert to complete. However, the IRS form 1023 is not so difficult that it can be filled out correctly by someone that focuses and applies themself.
Again, it is the information required about the nonprofit that is more difficult to come up with and can make the process longer. Spending time working through the information details of the nonprofit, before attempting to create it, can help the process become much easier.