7 Steps For Starting A Non-Profit Organization
There are many people out their whose ultimate goal in life is to contribute positively to society and it’s people. The best way to do so is by starting a non-profit organization. It is a complex process; however, if you follow the steps properly, you can set up a successful non-profit organization.
Do market research
First, you need to find out whether other non-profit organizations are doing similar things. If you duplicate the works of others then you won’t get funding. So, you should try to find a niche where others haven’t served yet.
Write a mission statement
You should have a mission statement for your company to help you reach your goal.
It should communicate the purpose of your company and what activities it promises to do.
Develop a business plan
You should have a detailed business plan where you will include your funding source, resources, and more. Here you will mention in detail how you are going to achieve what you promised to achieve.
You should have a board where you will elect people to play certain roles. These people will be assigned specific tasks and held responsible for them. You should provide training to board members for long term success.
Incorporate the organization
If you incorporate your non-profit organization, it becomes eligible for tax exemption with the IRD. You should submit the necessary documents needed to get tax-exempt status.
You should register with the designated office so that you can stay compliant. You should collect an annual reporting form, complete and submit it at the end of each year.
You should take measures to raise funds for your charitable activities. You should also look for grants or some way to support your organization so that you can pay the salaries of your workers and keep it running. These steps will help you to set up a non-profit organization properly. By fulfilling all these steps you can run a non-profit organization smoothly.