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Anyone know how to start a non-profit organization??? *youth bball*

Discussion in 'BBS Hangout' started by Gummi Clutch, Jul 20, 2005.

  1. Gummi Clutch

    Gummi Clutch Member

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    I am considering making my youth basketball team it's own non-profit organization. We had a very successful season and it looks like we may be getting a HUGE sponsorship. The sponsor would like to make it a tax free donation if possible. I need to know how to submit paperwork etc. to become a tax free non profit group.

    If anyone knows how to help me out I would really appreciate it.
     
  2. oomp

    oomp Member

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    It's not a fast process. My theatre started on it's paperwork in April and it was October before we could accept any donations.
     
  3. Gummi Clutch

    Gummi Clutch Member

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    I understand it may take 6-8 months.
    Is there any way to expedite it though???
    If money is an issue it may not be a problem.
    We have a very generous sponsor.

    Please let me know the steps to go about doing this.
    Right now I am considering:
    http://www.foundationgroup.com/nonprofit_incorporation.html

    a $250 fee, is it worth it? or is this something I could do myself with a lot of waiting in line at the city and headaches?
     
  4. PhiSlammaJamma

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    Once you are up and running, go here to give your non-profit a leg up on super cheap software. They also have non-profit tech advice.

    http://www.techsoup.com/
     
  5. Pipe

    Pipe Member

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    Basically you are talking about a two part process. First you form a nonprofit corporation. The first step in this process is to file Articles of Incorporation with the Secretary of State. Assuming you are in Texas the Secretary of State's website is very helpful in this regard. There are more steps involved, but I won't go into them here.

    Forming your corporation, however, is distinct from becoming what most people think of as a nonprofit, meaning people can make contributions and deduct them from their taxes. This is typically referred to as a 501(c)(3) organization, after the tax code provision that governs them. In order to receive tax-free status, you file a Form 1023 with the IRS. Like most tax forms it is lengthy and complicated and is not written in English, however, the IRS has publications (I think Publication 57 off the top of my head, but these are also not written in English) to assist you through the process. You receive provisional tax-free status, but the overall process is lengthy before you get final approval.

    If you have the money, hire an attorney and an accountant to assist you.

    None of the foregoing is legal advice, just an attempt to head you in the right direction. This is just a summary and there is a bunch of other stuff you need to know. YMMV. :)
     

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