Stage 1 of Non-Profit Incorporation: Vision
Define a Mission Statement and a Purpose At this point in your planning you know what your general goal is for your non-profit, but now you need to put it in writing in a way that is clear, concise, and answers the question about why you started the non-profit. Take care in constructing your mission […]
Startup Video Friday: Take Two!
For our Startup Video of the week, Tyler Jensen explains how to go about creating the foundation for your startup business. Enjoy! If the link isn’t working, check out the video at https://www.youtube.com/watch?v=lSbCZo88rGE&feature=plcp. View our archived videos on our YouTube channel at https://www.youtube.com/user/thestartupgarage?feature=watch. Whether you have a question about Creating the Startup Foundation, or you’d like […]
Overview of the Stages of Non-Profit Incorporation
Once you have decided to incorporate your non-profit, your next task is to prepare to file with the state government to attain official non-profit corporation status. The first stage of your preparations includes articulating your purpose as an organization and drafting a mission statement. You also need to recruit a board of directors. Whether you […]
501(c)(3): Public Charity vs. Private Foundation
A public benefit corporation that files for tax-exempt status under 501(c)(3) to the IRS is further classified into one of two categories: public charities and private foundations. The two classifications differ in the amount and type of paperwork that must be filed to the IRS, and you can read up further on the specifics on […]
Startup Video Friday!
We’re excited to announce a new weekly resource for you! Every Friday we will post a new video with advice, strategies and recommendations for your business startup process. Check back every week to see our latest video. This week, Tyler Jensen will explain how business plans are like puzzle pieces… If the link isn’t […]
Considering 501(c)(3)? Charity vs. Charitable
If you have decided to incorporate your non-profit as a public benefit corporation with the ultimate goal of obtaining a 501(c)(3) status and federal tax exemption, please consider the following explanation of one of the terms commonly used in the non-profit lexicon. The requirements for a federal tax exemption for qualifying as a 501(c)(3) organization […]
The Three Categories of Non-Profit Corporations
Non-profits that choose to incorporate are classified into one of the following three categories. The chosen category must be stated on the Articles of Incorporation that are submitted to the state for filing. The three differ from one another primarily in stated purpose, how their assets can be distributed, and the amount of regulation. Public […]
The Four Non-Profit Structures
A Non-Profit organization can be structured in several different ways. Depending on your organization’s liability risk, the type of activities your organization wishes to engage in, and the complexity of your finances, one of the following structures may suit you best: Corporations A corporation is a separate legal entity that has the capacity to sue […]
Overview of the Types of Non-Profits
Now that you have decided to start a non-profit organization, you must consider which legal structure you wish to use. The most common form of non-profit is the non-profit corporation, and later in this blog series I will explain how you can file for incorporation if you wish to do so. If you don’t want […]
Things to Consider for a Non-Profit Business Model
Not all business ideas fit squarely in either the for-profit or non-profit realms. Deciding which business model to pursue requires some consideration of your specific situation, including your access to both financial capital and human capital. The most significant benefit to starting your business as a non-profit is the ability to turn your altruistic vision […]
