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December 20th, 2005, 01:53 PM #1
Starting a Non-Profit 501(c)(3)
- Join Date
- August 4th, 2005
Has anyone had experience with starting a non profit company?
I am thinking about starting a foundation and I am wondering how hard and time consuming it will be to do all the start up papers.
December 20th, 2005, 10:33 PM #2
I havent but I know serveral people who have...
the best advice... you can get.. is seek the advice of a good attorney and accountant before you leap... then pay to have it done.. (created) if you make the slightest error in setting it up and getting started... you'll be plagued with problems from the IRS forever....
that's my2cents, 'cuz I'm a legend in my own mind....
March 9th, 2009, 09:33 PM #3
I decide when the pigs fly!
- Join Date
- January 18th, 2005
- New York, USA
March 10th, 2009, 09:26 AM #4
- Join Date
- January 17th, 2005
Go to your local library and check out some books on how to start and run a non-profit. Plus you can probably buy "Non-Profits For Dummies" or something like that title at any bookstore.
May 6th, 2009, 12:03 PM #5
"Has anyone had experience with starting a non profit company?
I am thinking about starting a foundation and I am wondering how hard and time consuming it will be to do all the start up papers."
I used to work in the nonprofit sector. Here are the steps you need to follow and who you MUST invite to join your board of directors. Form a Board of Directors and invite your local banker (bank branch manager is ok), and an attorney (who can complete the federal application for your 501 (c)(3) certificate as pro-bono). Once you have a board of 10 - 12 people you need to draft your mission statement (which will be submitted to the fed. govt. with the application). You should make sure the members of the baord are well qualified since when requesting funds from a foundation they will look at the board's qualifications. The fed. govt. will send you a letter once you have been appproved as a 501(c)(3), the certificate can take 6 mos. If you solicit funds from a foundation, before your certification (certificate) arrives you must include a copy of the certification letter from the govt. Hope this helps.
GilA. Gil de Lamadrid
Consumers Interstate Corporation
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