What to Know Before Starting a Nonprofit

There are many successful nonprofits that operate locally and nationally and are supported by generous donors who believe in the cause they represent. Unfortunately, despite the best intentions, not all nonprofits flourish since they don’t establish the strong foundation that is necessary. JTS Associates CPAs bring a wealth of experience and knowledge when it comes to starting and maintaining a nonprofit. They can offer the perspective that is needed to suit the short and long term demands of your organization.

There are a number of steps that must be followed in order to start a nonprofit, all of which are necessary in order to have the best chance to succeed in the long run. The JTS team is dedicated to providing quality service and insights that support your long term vision.

Where to begin?

Purpose: You need to clearly define the goal of the nonprofit and the audience it will serve.

Board of Directors: Having experienced and dedicated board members can certainly help to boost your organization early on.

Structure: Decide how your organization will be set up.

Funds: Plan what funds you have to start with and how you will raise more                                                      

Legal Considerations

Articles of Incorporation: You must be legally recognized by your state as as a legitimate business

EIN: The organization must apply for an EIN (Employer Identification Number) which will be used by the IRS to identify your organization

Tax Exempt Status: It is important to gain 501(c)(3) status so potential donors understand that your nonprofit is legitimate.

There are many other additional steps to take, but by working with JTS Associates CPAs you can be confident that they will guide you and work tirelessly to help you achieve your dream of starting a nonprofit. Call today at (516)877-5900 so they can help you take that first step towards doing good in the world.