GrantWatch.com is a unique and effective tool for grant searching. We’d like to take the opportunity and talk to you about starting a nonprofit.
First of all starting a nonprofit or small business, must be done with happiness. There are a lot of hours involved in any start-up. It should be your passion and it should never ever be your last resort to obtain income.
“If you love what you do, you will never work a day in your life.”
We get calls every day from subscribers, like you, searching for grants to start a nonprofit. You probably have an innovative idea that will transform the community. But, you need the time, determination and follow-through to put it into action. Here are the steps we suggest you follow:
- Look into other nonprofits: Is there an org already doing the type of work you were planning on?
- Is nonprofit status right for you? Determine if you want to be a tax-exempt organization or a for-profit. This could alter your plans.
2) Make a solid base for yourself
- Create a mission statement: This is pivotal. It describes what an organization wants to accomplish in the present.
- Write a business plan: Yup, a business plan. This is because it will help you articulate your plans and goals.
- Develop a board: This is the group that has legal responsibilities. So, take time in orienting, training and cultivating board members.
- Develop a social media strategy and become noticed on all channels. This will help you market yourself when creating a crowdfunding campaign to help defray some of the professional fees (legal and accounting costs) of start-ups.
3) Incorporate yourself
- Why should you incorporate? It makes officers and directors less liable.
4) 501(c)3 status
- Apply for the IRS status. Wait to hear back.
5) Continual compliance
- Register with your state’s charity registry. Don’t forget form 990, an annual reporting requirement.
Then, search for grants for start-up nonprofits on GrantWatch.com. Or, if you’re an established nonprofit looking for support for board of directors’ management, financial accountability and to strengthen community resources, encourage volunteerism and community services, look at Nonprofit Support Services grants.
We hope this article has been informative to you and if you want to reach your local nonprofit association with additional questions, check out the Resource Center under Resources on GrantWatch.com. See previous articles about Community Service Coordination grants, grants for Municipalities, Economic Development, Small Business, Health and Medical, Farming/Agriculture and Youth/Out-of-School Youth.