Nonprofit Elite Blog
How Much Does it Cost to File for 501c3 Tax Exemption
How much does it cost to file for 501c3 tax exemption? This depends on which IRS form you use to file, and you have two distinct options: IRS Form 1023-EZ or IRS Form 1023. Let’s take a look at both options in more detail: Option One: IRS Form 1023-EZ – If you are NOT a church, a school, a hospital, a foreign organization, or a medical research organization/hospital, and if your total projected revenue (gross receipts) is [...]
The Costs Of Starting A Nonprofit In 2023
If you have been looking at creating your own nonprofit and have asked yourself about the costs, you’re likely to come to the conclusion that “it depends”. There are a lot of elements to consider for the cost of starting a nonprofit. Just on a basic level, each State has its own laws and associated fees. There are also laws at the federal level that you must follow. Luckily, the type of fees and services you’ll be spending your [...]
7 Common Mistakes To Avoid When Forming A Nonprofit
Forming your own 501c3 nonprofit organization is a lot of work, and if not done correctly could cause you some big headaches or even legal issues. Just like with any project, you shouldn’t go at it alone. Even nonprofits need an internal team to help with all of the day-to-day operations and those that are external like consultants. If you’re looking to start your own nonprofit, keep reading to learn about seven common mistakes to avoid in the process. [...]
Choosing Your Local Nonprofit Consultant
As a professional in the nonprofit field, you have a plethora of responsibilities to fulfill. From networking with supporters to other professionals to provide services, you’ve got your plate full. It can consume a lot of your time, leaving you very little leftover to strategize about next steps. That’s where Nonprofit Elite steps in. Nonprofits all over the country, and even the world, hire consultants for a wide range of consulting. It’s important to find a consultant that matches [...]
5 Essential Things To Include In Your Nonprofit’s Bylaws
The process for filing your 501c3 application can be delayed if you make mistakes. Many people try to complete the entire process themselves without any help from an experienced nonprofit expert. Not only can this delay the process, but it can even get your nonprofit denied. A nonprofit’s bylaws are an extremely important, legally binding document that basically governs how the nonprofit will function. The language used in certain sections of your bylaws can also be the difference in [...]
Why Are Bylaws Important For A 501c3?
One of the important steps to forming a 501c3 nonprofit organization is the drafting of its bylaws. If you are new to the nonprofit world, the concept of bylaws may leave you with a question. Or many questions. Here at Nonprofit Elite, we specialize in answering these questions and assist in drafting these bylaws to meet your organization’s needs. So, what exactly are bylaws and why are they important? Let’s go over this important step. What Are Bylaws? First, [...]