Home: Message List - Starting a Non-profit scholorship organization...need help!!

Re: Starting a Non-profit scholorship organization...need help!!

OceanGrand — Thu, 16 Apr 2009 12:14:36 GMT

Yes mksamk I have posted the reply with all the information but it never seems to post. We would enjoy helping you set up your nonprofit www.oceangrand.org/start-501c3 we set up many all over the world everyday.

Re: Starting a Non-profit scholorship organization...need help!!

vistasad — Thu, 16 Apr 2009 07:35:13 GMT

Hi

You have already got aid of $20,000, that is good.
Go through the net and look for scholarships amongst the innumerous foundations.
Talk to the priest in your local church and locate other students who have applied or got scholarships.
Take their leads and follow up.

http://www.vistasads.com

Re: Starting a Non-profit scholorship organization...need help!!

mkgirl — Sun, 12 Apr 2009 08:14:17 GMT

Hi,

I'm an Korean missionary kid in the Philippines. I have been looking for scholarships for the last couple months but there seems to be hardly any available for internationals. The competition is very fierce and many foreigners are looking for money to study in the states. I have been accepted to Houghton College and will be receiving $20,000 per year but there is still a huge strain on my parents. I do not want to add to their financial burdern already because their support has been cut. Can you tell me about your organization, is it primarily for mks or for Christians?

Thank you very much,

Re: Starting a Non-profit scholorship organization...need help!!

Steve1040 — Wed, 25 Mar 2009 01:29:26 GMT

Fictious Name you might start by looking on your State's website Maybe Attorney General

Federal EIN = https://sa2.www4.irs.gov/modiein/individual/index.jsp

Steve

Re: Starting a Non-profit scholorship organization...need help!!

mksamk — Wed, 25 Mar 2009 01:16:13 GMT

thanks steve 1040 I had a few addtitional questions.
How can I register a Fictious name with my state? IL/Chicago...
How or where can I apply for a EIN?
Thanks.

Step1: Register a Fictious Name with your State (<less than $10)
Step2: Apply for Federal EIN (Free)
Step3: Applied and approved for Business Checking from Bank of America

Re: Starting a Non-profit scholorship organization...need help!!

Steve1040 — Wed, 25 Mar 2009 01:06:53 GMT

mksamk,
My family has a non-profit college assistance fund. I was responsible for opening our checking account.
I'm in Missouri but here are my steps
Step1: Register a Fictious Name with your State (<less than $10)
Step2: Apply for Federal EIN (Free)
Step3: Applied and approved for Business Checking from Bank of America

Good Luck

Starting a Non-profit scholorship organization...need help!!

mksamk — Thu, 19 Mar 2009 20:04:23 GMT

I am in the process of trying to set up a non-profit organization. This organization is to fund and help out needy Korean Missionary Kids in terms of living expenses when they are alone and far away from their parents as well as help out with school/college tuition. As US college tuition reaches past $20,000, it's hard to have parent's pay for tuition. So, I have been personally helping missionary Kids out as well as had other donors giving me money to help missionary kids out. Up till now we have a network of about 10 members who have been receiving money and distributing them to missionary kids in need. But, as the amount of money reaches more and more... there is a danger in accountability.

So I am simply trying to open a checking/saving check account with our group organization name... so that we can recieve checks or even deposit checks under the group name. Then we can write checks under the non-profit group name. This would simply put an accountability to the money being deposited and even spent. Ideally I would like to have 2 members having to sign checks when we offer the scholarships.

BUT, to open a simple bank account does not seem easy. It seems I need to get a DBA lisense and all that.

Can anyone here break this process down for me and also suggest a bank where I can open this account? We are primarily located in Chicago and LA.
Thank you for your wisdom!!