"Hey,,, I have an idea,,,,, I want to form a non-profit to provide relief for natural disasters".Sounded pretty simple when the idea jump into my mind but like most things, the details can be the killer. One would be killer in this process is the dreaded and all consuming 1023 form created by the IRS. This form is the key to 501(c)(3) status otherwise known as being tax exempt. Two beautiful words in the non-profit world. The ability to offer a write-off to the contributors, the true status of a public charity.
Yesterday marked the day that I pressed send on an email addressed to my attorney (pro-bono by the way,, 2 more beautiful words) attached with my completed 1023 form. To say that this was a load off my shoulders would be an understatement,,, this my friends was the biggest step in my mind to make this venture a reality. The details of this form can make people second guess their decision to actually form a non-profit. It makes you think out and state every move you are going to make as an organization. You need to provide details as if you have already been doing this for years and provide financial projections for years to come. As far as challenges one experiences to form a non-profit, this rises to the top of the list. I'm happy to see it moving forward allowing me to continue working on other details.
DD
1 comment:
Congrats, Dan. I will keep an eye out on FEMA and news outlets about towns that are falling through the cracks after disaster strikes.
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