Communities across the world are dependent on non-profit organizations for support. Creating a non-profit organization is extremely admirable; however, you should be aware that starting out can be challenging.
Have a Mission
You will probably have an idea about your non-profit’s mission already; however, you must come up with an effective plan that identifies each step your organization must take, its fundraising projections and how you intend to achieve your goal.
You must also find volunteers who share the same vision and will support your organization to the hilt to ensure its success. Non-profit organizations are dependent on kind-hearted individuals who are willing to provide their time, expertise and efforts to improve a community, so it is up to you to find like-mined people to build a solid foundation for your organization.
Consult a Professional
Non-profit organizations are required to adhere to various legal requirements, because your operations are dependent on charitable donations. It is therefore vital you consult an experienced advisor to ensure your organization is legally compliant, so seek advice from an attorney, accountant or a professional who is familiar with charitable operations and/or tax-exempt law.
Know Your Niche
There is a difference between wanting to help and being able to help a community. You must be familiar with your industry before you even think about launching a non-profit. For example, if you want to launch a non-profit hospital, you would have to learn about the legal practicalities, medical requirements of a hospital and whether there is a local or national demand for various medical procedures.
Build a Board
A non-profit organization will require board members who steer the direction of the operations, providing team members with foresight and insight, whilst deciding on hiring the talented individuals who will help take the organization into the future, such as CEO or executive director. Board members will also be required to actively fundraise for the non-profit, from launching fantastic fundraising events to encouraging large and small-scale donations.
Register with Legal Entities
Fortunately, a non-profit organization is exempt from paying tax, but that doesn’t mean an organization doesn’t have its fair share of paperwork. Your organization must apply for a tax-exempt status from the IRS, as well as your state’s tax division, so you can simply invest all your donations back into the community.
Once you have the required licences in place, you can start fundraising. You can choose to fundraise by holding large-scale events, such as sporting challenge or dinner party, or taking to the streets or social media communities to share your mission in the hope of public donations.
Building an online presence is also a great way to encourage engagement with people who care about the community. You can therefore incorporate a payment solution on your website so people can donate at their leisure. Payment Savvy can help integrate donation and electronic payment systems to help your organization reach the next level, which can include online donations to mobile text payments.