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 endlessly scour the web attempting to find all of the steps to form a non profit, while simutaneously looking to find an inexpensive way. There is typically two ways to create a non-profit for doing charitable non-profit work. First is by starting an independent 501c3 non-profit and the second is thru Fiscal Sponsorship. Each ways of starting a non-profit work fine, however I know more folk 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 corporation in the state you you will work in
2. Create Bylaws in which to rule your company
2. Apply for tax exempt standing by filling out and filing the IRS Form 1023 (501c3 application)
3. Apply for an EIN number
4. Make an application for a business license
5. Open a bank account once the nonprofit busines 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 may sponsor the non-profit
2. Fill out their application which is typically short
Because the sponsor often looks after everything else, once the 501c3 application is filled out that is all there is to it. There is often a multitude of conveniences the sponsor includes so take care to use each one 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 known worldwide as the nonprofit Guru and expert fundraiser because he helps others easily start and fund non profit companies all over the world. Through his work with non-profits worldwide, he helps others start and run successful non profits. Scott is a legacy builder and will help you build your nonprofit heritage.
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New Unique Article!
Title: Non profit Application
Author: Scott Michael Ringo
Email: dirasu.739127.0@articlesamurai.com
Keywords: 501c3 application
Word Count: 684
Category: Business
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