Photo via Pexels
Launching a nonprofit is a great way to give back to your community and build awareness around an important cause. But getting started isn’t easy. Launching, growing, and sustaining a nonprofit requires plenty of planning and a great deal of ambition. Thankfully, there are countless resources out there that can help you along the way. To help you navigate the first few steps of launching your nonprofit, check out these tips:
Learn the Right Skills
Launching a successful nonprofit requires some key business, management, and communication skills. Take advantage of learning opportunities that will help you develop the skills you need to thrive as a nonprofit leader.
- Work with another nonprofit to learn the ropes from experienced nonprofit board members.
- Go back to school to gain knowledge and experience that will help you excel as a nonprofit founder.
Research Your Funding Options
Develop a well-researched funding model to ensure the long-term sustainability of your nonprofit. Most importantly, research your funding solutions before you need money!
- Start a monthly donation program to secure consistent and reliable income from monthly sponsors.
- Consider charging a fee for your services or selling products to support your mission.
- Raise money through an online crowdfunding platform like GoFundMe and Indiegogo.
- Make sure you understand nonprofit fundraising laws before raising money.
Understand Your Reporting Requirements
Meeting your reporting obligations is essential for remaining in compliance with nonprofit law and maintaining your tax-exempt status.
- Be sure to file Form 990 with the IRS to comply with your annual reporting requirements.
- Learn how to properly disclose your fundraising activities.
- While not required, you may want to publish annual financial reports to demonstrate your achievements to donors, volunteers, and government officials.
Build a Strong Team
Between volunteers, employees, and board members, you will need to assemble many different team members to get your nonprofit off the ground.
- A Board of Directors is important for establishing the organizational structure of a nonprofit.
- Learn how to be a great leader and build a nonprofit team that will thrive.
Are you ready to launch a nonprofit? It will take some time to navigate the steps ahead and launch to the public, so get started right away! With the right resources and people on your side, you’ll be up and running before you know it.