The holidays remind us of the importance of giving back. What a great time to consider creating a nonprofit to allow you to keep helping those in need and supporting the community year-round.
Many people are inspired to start a nonprofit but the daunting tasks ahead or fear of the unknown often derails these aspirations. A business attorney is often the key to allowing an individual or business to finally create that nonprofit that in small part helps transform this community (or world) into a better place. Here are a few steps to get you motivated:
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Passion and Purpose – Write down what your nonprofit will target and then research the need in your reach where you are able to contribute. Don’t forget to acknowledge the skills that allow you to thrive in your career or business because they will likely be necessary for your nonprofit’s success.
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Research or Consult – We are able to share our knowledge and experience with our clients, but if you don’t consult an attorney do the research and find out what resources are available to help you succeed.
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Write a Business Plan – Just like any successful business you need to perfect your idea and create a roadmap with all the steps that will be necessary. This should include goals, budget, fundraising and volunteers.
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Incorporate and Apply for Exemptions – Incorporate with the State, prepare your bylaws, apply with the IRS for an EIN and 501(c)3 exemption.
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Measure your Impact – Always keep good records, track funding, spending and future potential and needs in the community. Grow your nonprofit and increase your impact by doing so.
TriAmicus Law, PLLC
217 S. Peters Rd.
865.217.1154