Wednesday, May 21, 2008

Nonprofit Update

Before I talk about where I am in the process, I want to be sure to say that none of what I post is meant to be legal advice. I am not a lawyer! My intention is merely to share my experience. If applicable, please seek legal advice from an actual lawyer.

With that out of the way, things are moving right along. I picked a name! I'm not going to tell you what it is, though, until we're incorporated. Everyone will have to wait for the big reveal.

I've also drafted a Mission Statement. I'm waiting to hear from one of my Board members before it's official. Next up, Articles of Incorporation.

I've found some more online resources, too. Foundation Center has some good information. On the Nolo site, there is a little checklist of steps to take in forming a nonprofit. These include the following:

Choose a name.
File articles of incorporation.
Apply for IRS tax exemption.
Apply for state tax exemption.
Draft bylaws.
Appoint Directors.
Hold a Board meeting.
Get any required licenses and permits.

Also needed are an employer identification number, supposedly even if you are not going to have paid employees, a bank account, a fundraising plan and a (groan) budget.

Stay tuned!

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