This blog post comes to us compliments of the Chamber of Commerce.
A non-profit organization is an organization established to provide social services or benefits, and not to make a profit for its founders. Therefore, non-profit organizations strive to improve the health of communities around the world. Any profit made by a non-profit organization will benefit the organization’s mission, not encourage stakeholders to behave like a for-profit organization.
In addition, U.S.-based nonprofits can apply for tax credits that exempt them from paying federal taxes and allow them to receive a tax deduction for charitable donations. Examples of non-profit organizations include social service organizations, hospitals, NGOs, schools, etc.
Starting a non-profit organization may seem like a daunting task, but by following these steps, you’ll be up and running in no time. First, make sure your idea is something you are passionate about and that no one else is doing exactly what you want to do. Then, hire an experienced nonprofit lawyer to draft the founding documents. Finally, register your company name with the state and federal governments.
Choose a Name for Your Organization
Once you’ve decided on your nonprofit organization’s goals and figured out how to meet the unmet needs in your community, it’s time to think about a name for your organization. This first step is critical, as a non-profit organization needs a name that will ultimately build its brand and image. Therefore, the nomination must meet national eligibility criteria and be easily searchable by potential donors and members. Also, determine what web domains are available before you finalize the name.
Choose a Representative
Each non-profit organization must appoint a representative. Registered agents are also known as real estate, legal, or practical agents. The applicant will be responsible for approving the required legal documents on behalf of the non-profit organization. Thus, the representative is ultimately the link between your company and your district.
Click here for the full guide: How to Start a Nonprofit, by ChamberofCommerce.org. Additionally, see this guide for website costs if you want to learn how much a website for a nonprofit can cost; and this guide on business structures if you’d like to see nonprofits compared to other popular businesses.
