Before you start your nonprofit, stop.
There’s an important question you need to ask yourself before submitting the application.
Should you start a nonprofit?
The answer: Yes! -but always with a clarity on the process it will take to start a nonprofit.
Let’s be clear: there are many nonprofits already established in our respective communities.
But too many nonprofits establish the formalities but haven’t launched the programs to execute. We want to prevent this from happening to you.
3 Reasons Starting a Nonprofit it Perfect for You
Starting a nonprofit can seem overwhelming. If you aren’t familiar with the entity, you have one or two perspectives.
Which of these do you believe?
Starting a nonprofit is all about the money. You might as well stop now because it’s more than you padding your pockets for personal financial gain.
People will support my cause-just because you start a nonprofit doesn’t mean than people will subsidise you with their finances, time, and/or resources.
While the reality is more complicated than both these statements combined, here are three reasons you should start a nonprofit:
Exemption from corporate income taxes on profits from activities related to the organizational purpose.
Permitted to raise funds by receiving public and private grant money and donations from individuals and companies.
Protects the directors, officers, and members from personal liability for the corporation’s debts and liabilities.
Starting a nonprofit, is well worth it for those who will put in the hours and understand the the formalities is just one piece of the puzzle. Just don’t expect your idea to go from a vision to reality or you’ll get discouraged.