Starting A Nonprofit Organization

Full Video Transcript

If you’ve got a great idea for a non-profit organization, then it makes sense to take the time to start the business off right. Once you’ve got an idea, a name and a mission, then it’s time to think about the organization and establishment of your non-profit corporation. You’re going to need a board of directors, articles of incorporation, bylaws, a budget and good accounting system. Once your confident in those aspects of your venture, then you can file for tax-exempt or 501(c)(3) status with the IRS.You can get the 501(c)(3) application from your local IRS office. You will need to completely fill out the application and return it with the appropriate fee. The amount of the fee depends on the size of your budget. After he filed a 501(c)(3) paperwork, you’ll need to obtain Employer Tax ID number from the IRS, file for state and local tax exemption, file for appropriate permits for charitable fundraising and apply for a non-profit mailing permit. Then you can get to work didn’t get stuff.

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