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| *Ostroff, Fair and Company>>>Government & Non-Profit |
How difficult is it to start a non profit organization? |
Any special tips will help too. Thanks. It's difficult if you go the traditional route of doing the paperwork to become tax-deductible first. It's a lot easier if you find a nonprofit who will sponsor you while you get your program running. That way, any gifts to you are tax-deductible because the nonprofit is the fiscal sponsor, and you spend your time on starting the program, not filling out paperwork. It's really the way to go. . very difficult. and pyramid schemes are radically not non-profit, even if it is someone calling for deaf/dumb/blind. - Very difficult. My club is in the process now. Be sure to get a CPA. You will never be able to get the paperwork straight. We even had an attorney that could not get the paperwork done to the IRS's satisfaction!! depends. i'd say it's problematic cause you have to pay for everything. otherwise, i'd guess you just gather the people that share the interest. It depends on what the purpose of the non-profit is. You will need to obtain state and federal recognition (Incorporate and get IRS non-profit status) and unless you plan on paying start-up and sustained operational costs you will need to find funding. The first thing you need to do is prepare a business plan researching the need for what ever you plan on doing, is there a market for it, will you be competing with others, etc. Before going too far you should register with your state in order to protect your interests. Best advise I can offer you is contact the small business administration (see their web site at www.sba.gov) where you will find all kinds of help. Contact SCORE who can give you a lot of free help, check with your local Economic Development organization, talk with your banker and a good CPA (Certified Public Accountant). Do not try going it alone - using the listed resources will make a lot of difference. Most small business fail within the first 1 to 3 years; jumping into business without a good business plan (lot of good sites on Internet) is the first step to going out of business! |
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