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Tips on starting a nonprofit organization

Tips on starting a nonprofit organization

Tips on starting a nonprofit organization

11 Resources for DIYing a Nonprofit Startup

Business ownership can be challenging, but launching a nonprofit takes a different kind of effort. From reporting requirements to government guidelines, there’s a lot to do and even more to learn. Check out these resources from the Estes Chamber of Commerce for starting a nonprofit.

Take Advantage of Financial Support

Nonprofits can take advantage of some unique financial options. Check out what’s available for your business concept or take a more creative approach.
●      Estimate your startup costs based on your industry and business formation choices.
●      Explore special discounts for nonprofits for tools and applications you might want to use.
●      Check out crowdfunding sites (and test supporter willingness to contribute) for funding.

Know What's Legally Required

Like for-profit businesses, nonprofits must follow certain rules. However, nonprofits have additional legal parameters to stick to.
●      Learn about your state’s reporting and additional legal requirements.
●      Understand public disclosure requirements for your nonprofit’s activities.
●      Dive into research on nonprofit CEO salary to explore average earnings.
●      Compare data to determine the value of your contributions and justified salary.
●      If you decide to form as an LLC, research LLC startup cost data for Colorado.

Devote Time to Managing Staff

Though your nonprofit staff may be united for a cause, you’ll still need to manage your team carefully. Tracking your workforce’s activities and hours is one necessity for nonprofit success, so try these tips.
●      Establish a company culture and workplace commitment to focus on your cause.
●      Develop a high-performing leadership team to drive your organization.
●      Dedicate a team to fundraising to continue supporting your organization’s finances.

Starting a nonprofit isn’t the easiest business decision, but it might be the most rewarding. And with these tips, you can position your charity organization startup for success.

Contributed by Mary Shannon
Photo via Unsplash

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