Foundation Essentials #3? What were the first 2!? Well, lets review:
- Active Boards are essential for foundation success. See Blog article here.
- Implement strategies for nonprofit success. See Blog article here.
- Ensure that you have all of the required forms filed. Let’s review the forms here.
It is always unfortunate when people come to us seeking help with grants only to find out that they have not yet completed all of the necessary forms to become a tax-exempt, nonprofit organization. Some steps allow you to become a nonprofit with your state. But only one form allows you to become a tax-exempt organization nationally and qualify for grants. If you’ve part of the work, it may be OK unless you want to apply for grants. If you want the full capabilities of operating a nonprofit organization, you should complete this entire list.
- EIN Number – irs.gov to create a domestic nonprofit organization.
- State Filings – file your articles of incorporation with the state. You will also need to file with your state attorney general to be able to solicit funding.
- Federal Filing – irs.gov to complete 1023EZ or 1023 based on the size budget you anticipate.
- Guidestar.org – registering your organization qualifies you for certain funding opportunities.
- Other – register for other services that may benefit your organization (one may be Network for Good).
You may do these yourself, but there is help out there if you need it. Want more information? Try this article. Contact us for more information. Happy Fundraising!
