Cost of Opening a Non-Profit Organization
The cost of opening a non-profit organization can vary based on several factors. However, for a non-profit organization, you can expect to spend $62 to $35,923 with an average cost of $19,267.
Expenses and Costs for Non-Profit Organizations
Prioritizing expenses is key when starting up. Focus first on legal fees, filings, and necessary equipment. Then expand gradually as your budget allows. Find affordable resources like coworking rather than premium office space.
Budgeting for a Small Nonprofit
To start a nonprofit, plan for costs between $600 and $3,500 for legal fees and filings. Extra expenses include office space, equipment, staff, programs, and more. Most nonprofits operate on small budgets under $100,000 per year.
Steps to open a nonprofit include: choose a name, get an EIN, register with state, file 1023-EZ. But growing an effective organization takes more resources. Incorporation costs range $100-$1,000. Legal help preparing documents costs $200+ but saves money over a lawyer. Also budget for administrative and operating costs like office space and staff.