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Do you have a passion to fix an existing problem? Maybe it’s an environmental, health services, or education-related issue. Either way, starting a nonprofit organization could be the best solution. Nonprofit organizations provide significant economic and social contributions to the American economy.
Nonprofits are one of the greatest sources of employment across the country and save the government countless dollars through their efficient delivery of services. This spring, BCL partnered with Jill Azaria from the Dallas Central Public Library to hold a 4-part series on how to launch a nonprofit organization. With Jill as our guest speaker, we addressed topics such as funding, mission statements, and building a board of directors.
Here are a few tips we shared at our class:
1. Start with “Why?”
It is very important to conduct a need analysis for your ideas to ensure they have value and are equitable within your market.
2. You are in business!
Even though you’ve started a nonprofit, always complete and maintain a business plan to guarantee organizational structure, administrative protocols, and strategic advancement of goals.
3. Tax Exemption made EZ
The IRS now offers the 1023 EZ form. This new form is only three pages long as opposed to the previous 26-page minimum document. Any nonprofit with gross receipts of $50,000 or less and assets of $250,000 or less is eligible for the 1023 EZ form.
Ready to learn more about nonprofits? Join our free class, “Now Trending Nonprofits: Branding Strategies for Your Nonprofit” on March 23, 2016. You can register at https://nowtrendingnonprofits.eventbrite.com
Our entrepreneurship specialists are ready to assist you! If you have specific questions or need help with your business venture sign up for a one-on-one appointment today. Learn more at www.bcloftexas.org.