501(c)(3) in 12 Steps for public charity organizations

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My all-too-short time at Maryland Nonprofits comes to an end today, and though I only worked at the office for a month, I credit this internship with changing my career path for the better. Once you complete this form you will receive an email from "Maryland Nonprofits info mdnonprofit. Be sure to check your other or junk folder if you don't receive the resource right away. Home of the Standards for Excellence Institute.

Research and Organize Follow the steps below to put a solid foundation in place before incorporating your organization and submitting your Form Such organizations are resources to help you determine the need in the community, the viability of your idea, the types of programs that already exist, and the level of support available, both financial and otherwise.

This includes exactly whom you plan to serve and by what means.

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Once you make those determinations you will need to create a projected budget for your first three years. This includes all expected forms of income grants, donations, fee for service, etc. Bylaws should be signed by at least two officers and must be attached to the federal tax-exemption application but do not need to be submitted to the State.

A conflict of interest policy and accompanying declaration of interest statement help to protect the organization and its board members in cases where competing interests exist. Members can download a copy of the Conflict of Interest Policy template. Create a Corporation Before applying for federal income tax exemption you should create a legal entity corporation by following the process outlined below.

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To file by mail or in person: The Secretary should record meeting minutes to create a record of the meeting and elected officers. This meeting is required by law in order to complete the formation of your corporation. Founders must understand the difference between serving on the Board and serving as paid employees.

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We encourage founders to determine in advance of formation whether to serve as a volunteer board member or to serve as a paid staff member for example, Executive Director. Internal Revenue Service Attn: Once You Have Your c 3 Congratulations! These forms may be downloaded: All business entities formed, qualified, or registered to do business in Maryland must file an Annual Report. If the business can answer yes to either of these questions, it must also file a personal property return: Does the business own, lease, or use personal property located in Maryland?

For more information, see: Part One of our five-part series this month on starting a nonprofit. Check out the following steps you should take as you move forward: Helping people is not necessarily charitable. Determine your core activities and assess whether they are consistent with c 3. A primary activity of providing services in competition with for-profits may or may not be consistent with such requirement.

Identify what needs you are serving and evaluate whether your mission and activities are best run through a new nonprofit or perhaps through an existing nonprofit or a fiscal sponsorship arrangement. A new nonprofit should not merely duplicate what is already out there or primarily serve the personal interests of its founder s. Do your homework and understand your place in the market and the need to be collaborative and competitive in furthering your mission and acquiring sufficient resources to do so.

Assess whether your funding strategy whether through individual donations, grants, service fees, sales, or other sources gives you a good chance at sustainability. While funding is almost never a sure thing, you should take reasonable steps as if it was your own money to assure charitable funds are not wasted for lack of consideration about sustainability.

A nonprofit built on a weak base can later jeopardize everything built on top of it. Critical building blocks include human resources to govern your organization board of directors , run your charitable programs, take care of the administration and compliance work, and fundraise. Educate yourself and your leadership team on the laws relevant to organizing and operating a nonprofit and c 3 public charity, including those related to board duties and responsibilities, areas of potential liability, filing requirements, conduct and activity restrictions, charitable solicitations, certain applicable taxes, substantiation and disclosure requirements, employment, intellectual property, and leasing.

Draft a business plan. Draft the governing documents e.