by Scott Michael Ringo
Many make the process of starting a non-profit and filling out the <a href="http://simplenonprofit.com/category/irs-application">501c3 application</a> hard when in actuality it is a fairly simple process. Many when beginning a non-profit search for the"501c3 Application," when actually there are far more steps than merely the 501c3 application. There are innumerable businesses which make their living off of charging exorbitant costs to help others who need to start non-profits. It is not a requirement to pay someone else money to fill out the 501c3 application when setting up a nonprofit. Setting up a non-profit can be done efficiently. Read on and I will explain the method to help any person get a non-profit started without having to pay a lot of money to do it.
Many constantly search the internet hunting for all of the steps to create a non-profit, while simutaneously expecting to find an affordable way. There is usually two ways to make a non profit for doing charitable non profit work. First is by forming an independent 501c3 non profit and the second's thru Fiscal Sponsorship. Each ways of forming a non profit work fine, however I think more individuals enjoy running the Fiscally Sponsored non profit. A Fiscally Sponsored non profit has little documentation or cost to get started and no 501c3 application. The process to start each is explained below.
Independent 501c3 Application
The steps to make an independent 501c3 are not as long as they are tough. Creating an independent non profit isn't inexpensive and can run over $1000 in just the fees to file the 501c3 application with the state in which the non profit is incorporating and the IRS. Sadly, there's no way round the incorporation charges and the filing charges to the IRS. However, you do not necessarily need to pay somebody to help you do do this. The steps are:
1. Incorporate a non profit company in the state you you will work in
2. Create Bylaws in which to govern your corporation
2. Apply for tax exempt standing by filling out and filing the IRS Form 1023 (501c3 application)
3. Apply for an EIN number
4. Sign up for a business license
5. Open a checking account once the non profit company is established
That's actually all there is to it. I can tell you the IRS FORM 1023, which some call the 501c3 applicaition is very long and slightly hard to fill out. You may want to consult an expert and pay a reasonable cost for help getting this 501c3 application finished. Once the IRS FORM 1023 is filed with the IRS it can take many months till accepted.
No 501c3 Application
Nevertheless Fiscal Sponsorship is certainly an easier route since there is no 501c3 application. Fiscal Sponsorship is a formal arrangement in which a 501c3 public charity sponsors a project that needs nonprofit standing. Generally a nonprofit set up through Fiscal Sponsorship takes less than 4 weeks to get authorized and less that $400 to establish. Through Fiscal Sponsorship, the nonprofit should have the power to do anything it may as an independent nonprofit. Fiscal Sponsorship is a great way to start a nonprofit and permits the organization to do nonprofit work with 501c3 status without all of the bother or expense of starting an independent nonprofit. Additionally, most Fiscal Sponsors look after the accounting, banking and administrative services as well as providing coaching and 100% support. The steps are:
1. Find a Fiscal Sponsor that will sponsor the nonprofit
2. Fill out their application which is typically short
As the sponsor most times takes care of the rest, once the 501c3 application is filled out that's all there is to it. There's generally a large number of amenities the sponsor includes so be sure to take advantage of all of them.
As you can see, starting a nonprofit does not have to be troublesome to work out the steps. The steps are fairly straightforward, its compiling the information that is the hard part. Above all, find professionals and organizations that will give you direction, information, and support for minimum costs. The help in getting a nonprofit started shouldn't cost thousands and should be straight forward.
To find out more about the <a href="http://simplenonprofit.com/cost-start-a-nonprofit">501c3 application</a> and fiscal sponsorship Click Here ---->> <a href="http://SimpleNonprofit.com">http://SimpleNonprofit.com</a> Scott Michael Ringo, an entrepreneur, is understood worldwide as the nonprofit Guru and expert fundraiser as he helps others simply start and fund non profit organizations all around the globe. By his work with nonprofit organizations around the world he helps individuals start and run successful nonprofits. He is a legacy builder and will help you build your non profit legacy.
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New Unique Article!
Title: Nonprofit Application
Author: Scott Michael Ringo
Email: dirasu.739127.0@articlesamurai.com
Keywords: 501c3 application
Word Count: 690
Category: Business
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