Every nonprofit will seek grant funding at one point or another. Some wait years (or even decades) to begin this process. Others think that this is the way to start their nonprofit. It isn’t a simple as this. There are many factors at play when seeking grant funding. The writer is only one aspect.
Choosing your board is a critical component to effective nonprofit management, obtaining 501(c)(3) status, and qualifying for grant funding.
Starting a nonprofit is time consuming and can be taxing. It is a major undertaking. Ensuring the proper forms are completed, articles of incorporation are complete, bylaws are completed, and the board is properly established is essential. The next critical step is generating your first strategic plan.
Launching your 501(c)(3) and receiving that coveted letter of determination is just the beginning. In order to maintain your 501(c)(3) status, there are compliance regulations you must adhere to. Without complying with these regulations, you can lose your tax exempt status or even have your organization administratively dissolved due to failure to adhere to administrative compliance regulations.
The importance of careful 501(c)(3) application and what it means.
Starting a nonprofit can be complex. Use our handy nonprofit startup guide to help you strategize your efforts effectively.