Key Nonprofit Documents and Formation
Getting familiar with key nonprofit documents is essential. These documents contain important nonprofit operating rules. Steps to form a nonprofit corporation include: Apply for federal and state tax exemptions. Create bylaws setting out nonprofit operating rules. Appoint initial directors.
Steps to Start a Nonprofit Organization
Numerous nonprofits exist, making fundraising competition fierce. Lack of funds affects sustainability. Starting a nonprofit, though rewarding, has challenges due to various steps involved. These steps also vary by state. However, this basic 10 step nonprofit organization checklist can guide you.
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Determine why you wish to establish it. As with any venture, first determine demand, market and problem your nonprofit addresses.
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Research what organizations with similar goals and methods exist in your area. It may not make sense to compete.
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Once determined, legally incorporate your nonprofit.
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Get a board portal to store documents and collaborate.
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Write the Articles of Incorporation.
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Form your nonprofit the same way corporations are formed under state laws and regulations.
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Determine how you will fund it. Provide financial stability and sustain operations. Funding options include offering a product/service, recruiting members/selling merchandise, throwing fundraising events, applying for grants, seeking donations from individuals and companies, fundraising online via social media and crowdfunding platforms.
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To gain funding from private donors, foundations and grants, legally incorporate your nonprofit. Follow each state’s specific requirements.
Creating a Successful Nonprofit
Creating an actionable checklist sets your organization up for success. Consider:
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Creating a thorough plan the same way you would when starting a business. This might include funding, growth strategy, budget and impact analysis.
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If you know your cause is worthy, start peer-to-peer fundraising to pay initial costs. Present your coherent business plan convincingly.