Wrestle no more with operating that Non-Profit! Let us demystify it for you.
Here are the standard steps.
1. Incorporate in the state where the Non-Profit will be operating.
2. File the Officers List (most states require 5).
3. Apply for EIN Number.
4. Open Bank Account.
5. Business Phone Number
6. Apply for Federal Exemption (tax write-off)
Now here is where it gets tricky and gets discouraging.
Everyone you meet says does the Non-Profit have 501 status? If it does we will be able to give you money to help the cause. Most people that are inspired to do Non-Profit work don’t have much money so here is where the problems kick-in. Filing for the tax exemption with IRS cost $400.00 and the applications looks and feel over whelming. So you say I’ll contract this out you search for someone to do the application and they charge more than the amount to file.
Answer: find a Fiscal Sponsor until you the Non-Profit is ready to stand on its own.
7. Apply for State Exemption
8. File Application with Attorney General
9. Apply for Duns Number
Non-Profit = Paperwork, Paperwork and more Paperwork if you are not a paper person please find someone that is don’t get into trouble because you have not kept up with paperwork required for non-profits. In addition to all the above there needs to be someone handling the recording keeping all board meetings, minutes, and resolutions need to be kept up with. Non-Profit greatly differ in this aspect Non-Profit are open to the public books and records can be inspected at any time.