If I’d known what I know now about NonProfits, I would have listened to others’ advice. I had no idea what was involved in setting a NonProfit up. If you’ve ever started your own business, you know there are a lot of processes that need to be set-up. With NonProfits, you will have these also and then some.
What comes first, the Profit or NonProfit business?
Someone once told me that I should establish a profitable business and then start a NonProfit. I should have listened because I see the value of that route now. The reason it’s more complicated is that of the regulations on them. These are in place for a reason, I’m sure. It actually makes me feel better when I donate to or serve a 501C3. Going through this process has given me a good perspective.
NonProfits need to meet State, Federal and Community standards. Overall, it hasn’t been that bad of an experience except for paying for all of the start-up fees. There are double the amount of start-up fees needed to start a nonProfit, compared to a for-profit business. I thought you have a cause, let others know, have a fun fundraiser, and serve the community. Well, it kinda happens like that.
So would I do it again, yes! But I would have saved some money beforehand for the start-up costs. I would say you need at least $5000 to get started comfortably. Oh, and get this book: NonProfit Kit for Dummies. It has been super helpful and understandable from a top-down view. Check it out here: (Amazon Affiliate Link)
And why did I feel the urge to start one? It’s been on my heart for quite a long time. I really struggled in my teens and twenties. This felt like a good way to give back.
Go be who you needed!
And save the world!!!
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