Starting a nonprofit or 501c3 charity can be very rewarding but very complex as well. In addition to providing your services, you must also hire, train & manage employees, maintain compliance with government regulations, understand your market and position your company to grow. Donations do not come by easily, the odds of failing and business risks are high. The more time you spend on this task the less time you have to do what you do best. As a nonprofit startup center we can help you with many of your needed charity start up solutions, so you can focus on implementing your services and do what you feel passionate about.
501c3 Services Accounting Solutions Web Development
Grant Development Web Promotion
Below are startup steps to successfully launch your nonprofit and maintain government compliance.
- Select a business name.
- Search for a similar domain name.
- Reserve name with the state.
- Obtain a local business license if applicable.
- Elect a Board of Directors and elect Officers. Directors and officers may be the same 3 people.
- Incorporate as a nonprofit.
- Prepare and File Articles of Incorporation.
- Prepare and Adopt Bylaws.
- Prepare and Obtain EIN via IRS Form SS4.
- Obtain 501c3 tax exemption status.
- Prepare and maintain First Minutes of Your First Meeting of Board of Directors.
- Prepare and file Form 1023 (Federal Tax Exemption).
- Prepare and file for State Tax Exemption.
- Prepare and file Initial Solicitation Registration.
On an ongoing basis, in order to maintain your good standing, most organizations will have to do the following:
- Prepare Annual Minutes.
- Prepare and File Annual Solicitation Report.
- Prepare and File Statement of Information/Annual Report.
- Prepare and File IRS Form 990 and STATE TAX Form.
After obtaining 501c3 exemption, most, newly created organizations will be required to file Form 8734 with the IRS after five (5) years of operation.
As a CPA Specialist in Nonprofits We Can Help You Start or Grow Your Nonprofit.
Call Us Today! 626.568.8600 Ask for Larry Thornton or Mohamed Fathy.
