HOW TO START A 501 (C)3 FOR A NON-PROFIT?
What is a 501 (c)3? It is a organization that you want to be a corporation, trust, or any type of organization exempt from federal income tax. There are 29 different types of 501 (c)3’s. I started mind several years ago. I didn’t know what direction I was taking or what I wanted to do. I realized now that I have come so far in life that I want to help other people, I completed all the paperwork myself for this. It was time consuming and took me 4 months to complete, but I got approved the first time around. I would like to help others that are interested in this also. These are the steps you need to take – Pick a name that you like for your business File your articles of incorporation You need to apply for a state tax exemption Draft your bylaws Appoint some directors Have a board meeting Get your license and permits I know this doesn’t seem like a lot. I had over 90 plus pages when I was completely done. Most people used attorneys. I’m sure they get it right the first time. But if you don’t have the money for a attorney; I can give you some tips. The standard filing fee for Form 1023 will cost you around $750, but your fee can be reduced to $400 if you don’t expect revenue to go over $40,000. Trust me on this one, there is a lot of legwork involved and more than a little paperwork. I want to do more for my community. Having a 501c3 will allow me and you the opportunity to reach out more. The sky’s the limit.
KNOWLEDGE IS POWER – TRUST ME ON THIS
I have been a patient advocate for years. I started out on foot when there was no social media. I would commute to hospitals, doctor offices, run ads in newspaper, walk and send out personal letters in the community. As the years went by slowly and I started to grow as a advocate I made myself knowledgeable; along came more opportunities. I was asked to speak in front of the FDA, attend Capitol Hill on several occasions as a lobbyist and the dermatology association invited me to speak in front of several hundred doctors. I have had the pleasure of being on panels with pharmaceutical companies and meeting celebrities. My best kept secret is working behind the scenes with companies and not being able to share with the public. But believe me, big things are happening. My life has been an adventure that I wouldn’t change for anything.