If you are passionate about a cause and want to turn it into your life’s work, launching your own nonprofit organization may be the ideal way forward. Although creating and sustaining a nonprofit takes hard work and dedication – it is possible. Not to mention, incredibly fulfilling.
“The meaning of life is to find your gift. The purpose of life is to give it away.”
– Pablo Picasso
the BLOQ parq (tBp) understands the desire to bring a vision to life, and we believe in paying it forward. One of our main pillars of our micro-space community is the desire to put our deep-seated passion for doing good into practice. From one philanthropic believer to another, we’d like to provide you with some steps you can take to become a boss of meaningful endeavors.
Create Your Mission Statement
A mission statement describes an organization’s fundamental, unique purpose. The best nonprofit mission statements are a brief encapsulation of why your organization exists, who it serves and how it serves them. You’ll want to make it clear, concise, and informative.
Build A Board Of Directors
Every nonprofit organization is required to have a Board of Directors. The Board is charged with ensuring the nonprofit follows legal requirements, abides by its bylaws, and works toward fulfilling the organization’s mission. The Board is essentially the governing body of the organization and should consist of trusted individuals.
File Nonprofit Articles Of Incorporation
This is one of the main steps of forming a nonprofit and is a crucial piece of your organizational paperwork. You can find this document on your state’s government website and there may be a small fee when you send in the form. This will successfully start the process of getting your business approved to function as a nonprofit. Once approved by your state, you’ll want to request separate approval from the IRS.
Create Bylaws For Your Organization
Nonprofit bylaws serve as a type of legal manual for a nonprofit. They can outline how often to hold meetings, requirements for membership, procedures for voting and passing amendments, board structure, and the duties of the governing Board members.
Apply For NonProfit Grants
Grants must be applied for and are typically given by a foundation, corporation, or government agency. Unlike a loan, grants don’t need to be paid back. They also help increase the visibility and credibility of a nonprofit. According to the Society for Nonprofits, when you receive one grant, you are more likely to receive others.
12 percent of total corporate cash contributions to nonprofits are made through matching gift programs.
Source: Chief Executives for Corporate Purpose
Seeking some extra guidance?
With so many moving parts, it can feel overwhelming to check all the items of your list during the nonprofit formation process. The websites listed below are excellent resources for getting every detail you need, step by step!
- National Council of Nonprofits
- State Associations of Nonprofits
- Society for Nonprofits
At tBp, we are on a mission to support passionate individuals who want to create a legacy of their own. With our co-working spaces, you can surround yourself with constant sources of do-good, feel-good inspiration. In addition to standing by our tenants and residents, tBp is committed to supporting local charities. In other words, there’s no better place for your nonprofit dream to come true!