Post a new topic
    8 Replies Latest reply on Jun 11, 2008 11:41 AM by LUCKIEST

    NOT-FOR PROFIT

    michael2 Wayfarer
      I have been involved in the treatment of abused people for many, many years. I have found that often the therapists need treatment more than the clients.To this end I want to start a non profit to do leadership capacity building training, and to help agencies to be more therapeutic, to facilitate advocacy and to help victims to overcome. I would also be raising funds to support them to access opportunities.

      I have incorporated in Florida and have the certificate.

      My questions

      Can one person start and."own" a non-profit

      Now that I have incorporated what are the next steps.

      Please
        • Re: NOT-FOR PROFIT
          LUCKIEST Guide
          NOT-FOR PROFIT, Welcome and good luck.

          I have incorporated in Florida and have the certificate. Great start.

          Can one person start and."own" a non-profit. YES

          Now that I have incorporated what are the next steps. Develop a Business Plan.
          Contact SCORE. SCORE is FREE.
          Where do you plan on doing the training?? Do you need a location??
          How do you plan on raising funds?? This should all be included in the Bus plan

          LUCKIEST
          • Re: NOT-FOR PROFIT
            m.rick Wayfarer
            Hi

            Luckiest gave you some great advice. SCORE is great. One thing to be aware of, the IRS determines if you are approved as a non-profit. The state will form the entity but the test comesfrom the IRS. Get with SCORE and start working on your plan, you will need it. Good Luck, givng people like you make the world a better place.
            • Re: NOT-FOR PROFIT
              Bridge Navigator

              Dear Michael,

               


              While one person can own and start a non-profit organization, tunning it is another issue. The IRS has many regulations in place in order for an organization to be claffified as a tax exempt (non-profit) organization.

               


              I beleive one of the requirements is an active board of directors.

               


              Talk to a very good accountant who specializes in this area.

               


              Below is an excerpt from the IRS web site.

               


              Exemption Requirements

              \\
              To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must beorganizedandoperatedexclusively forexempt purposesset forth in section 501(c)(3), and none of its earnings mayinureto any private shareholder or individual. In addition, it may not be anaction organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.

               

              Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductiblecontributionsin accordance with Code section 170.

               

              The organization must not be organized or operated for the benefit ofprivate interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in anexcess benefit transactionwith a person having substantial influence over the organization, anexcise taxmay be imposed on the person and any organization managers agreeing to the transaction.