Are you thinking about launching a non-profit organization? Wondering how you can go about setting up a nonprofit?
There are a lot of reasons to launch a nonprofit organization, but if you’ve made the decision to do it, you need to know that there is a difficult task ahead of you. Launching a nonprofit can be tricky, and if you don’t know the right steps to take in the beginning, it may be harder than it has to be.
Luckily, we’re here to help. Below you’ll find our essential guide to starting a non-profit organization.
1. Define Your Vision
The first thing you need to do when starting a nonprofit is to make sure you have defined your vision. You should give your nonprofit a name, create a mission statement, and set clear goals for your organization.
Try to get extremely clear about what your organization will work to accomplish and what purpose it will serve in the community. By being clear about your nonprofit’s goals and mission, every step listed below will be much easier as well.
2. Determine Legal Status
When starting a nonprofit you’ll need to incorporate as either a trust, corporation or association. Additionally, while your non-profit will have a 501(c)(3) classification, there are several different types of nonprofits under that umbrella, such as religious organizations. You’ll need to determine the specific category that your organization falls under.
Lastly, you’ll also need to apply for nonprofit status with the Internal Revenue Service and pay a fee of several hundred dollars to make your nonprofit official.
3. Form a Board of Directors
When starting a nonprofit organization, forming a board of directors will be a necessity. You need to aim to assemble a board of directors that is filled with knowledgable professionals that align with your nonprofit’s goals and mission.
You’ll also need to come to an agreement about what the bylaws of the organization’s board of directors will be. This way, everybody will be on the same page. Additionally, it’s also a good idea to get directors and officers insurance as well.
4. Create a Funding Plan
After you have made your nonprofit status official, you can create a bank account using your Employer Identification Number (EIN). You’ll then have a place where you can store any funds that you raise.
Like it or not, nonprofits need money to operate so you’ll need to think outside of the box to fund your organization. Whether you seek funding simply through networking, through hosting fundraising events, or through other methods, it’s important to give it plenty of thought early on.
5. Build Your Web Presence
One more essential step to setting up your nonprofit is to start building your web presence. At the bare minimum, you’ll need to have an email address and a professional website.
Setting up social media accounts for your organization is also extremely important as well. Whether you choose to use Facebook, Twitter, Instagram, or other social media sites, make sure you post regularly. Work to build a strong presence and interact with your organization’s followers on a consistent basis.
Following This Guide When Setting Up a Nonprofit
If you’re thinking about setting up a nonprofit, it’s important that you put in plenty of effort and do a lot of careful planning. By following the above guide, you’ll be able to get your nonprofit organization started out on the right foot.
Looking for more non-profit tips and ideas? Start looking through our blog now to find more helpful articles and guides.