QUESTION.
I am starting to take a networking group I began last year & turn it into a non-profit organization. Can you assist me with how to get started? I have a board of directors with officers. We have started working on our Mission Statement, By-laws & strategic plan, but it's the IRS paperwork that I am just not sure about. Do we need to hire an accountant? Do we need to get a bank account first? I would appreciate any assistance you can provide! I have started my own business, but the world of Non-profit is very new to me.
ANSWER.
To get started you will need to form a corporation with specific wording it its registration form and bylaws that will qualify it for Internal Revenue Code Section 501(c) status. See
BECOME A FOUNDER OF A NONPROFIT ORGANIZATION.
Also, you mention you are not too sure about the IRS paperwork. See
http://www.irs.gov/pub/irs-pdf/p557.pdf
http://www.irs.gov/pub/irs-pdf/f1023.pdf
http://www.irs.gov/pub/irs-pdf/i1023.pdf
I hope my comments are helpful. Feel free to send me follow-on questions via email. Good luck! Regards, -Jeff
Jeff Lippincott
SCORE.org Counselor
Princeton, NJ
scoreprinceton @ aol.com
www.scoreprinceton.org
www.jlippin.com
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