I really want to start a program/organization for teen moms in the DC area. This has been my passion for years. However, I am at a stand still because I am not sure how I would be able to start up and run this program full time and still make a living. Please help. All suggestions welcomed! =)Any advice on how to start a non profit for teen moms and still make money?
There are 2 separate and distinct issues related to starting your non-profit.
The first is the legal corporation that is an issue for your state bureau of corporations or similar state government agency. I don't know if the DC has a similar agency.
The second is it's tax status. That is governed and granted by the IRS.
Download the IRS instructions and publications on non-profit organizations. It can get confusing if you start to get mired in some of the technical details. Don't worry too much about those. Focus on the forms and deadlines needed to establish your official tax status. It takes time.
If the total revenue of the corporation is less than $25,000 in a year, no tax return is required. But you still need to get the IRS to certify the organization as a non-profit.
Great idea and the non-profit organizational form gives a lot of people added comfort as to the value of your mission.
As the founder and primary employee, you have the ability to pay yourself a reasonable salary from the non-profit. I bet your local United Way Executive Director pulls down a salary of well over $100,000, plus benefits!
Governance of the corporation will need to be by a Board of Directors, though. You can pick the board yourself. You need to have bylaws, too. Try a google search for non-profit bylaws to see examples.
Any non-profit actually MUST have revenues that are greater than expenses in order to survive over time and build the organization. However, because of their tax status, they do not pay taxes on this ';profit.';
How's that for a start?Any advice on how to start a non profit for teen moms and still make money?
First, this would depend on what type of income you are looking to make. If you are looking for reasonable operating costs (which would include your salary) you might be able to obtain government grants or corporate grants on a yearly term to fund your non profit group. You might also be able to obtain corporate and individual donations which would be used for various things to run your operation, including your salary, because without you, the organization can't function.
Non profits gets paid, All it means is that you don't charge for the things you do, but you do accept donations. So you can make money if you rally the right crowd and find people that are willing to donate to your cause. If your in it to make money then you may want to work for someone in that Field that offers a paying position. If you are genuine you will be successful and people will donate the funds to help. Good Luck!
Start by raising about $2000 - you'll need it to establish your non-profit properly with the state. legalzoom.com can help.
After that, make a list of target companies and people you think would be willing to donate. No one can legally donate without your FED ID number and having been established with the state as a non-profit. So once that is in place, you can go to the next step.
There is no ';making a living'; in non-profit. I started one of my own and I work full time in order to keep it going. You might make enough to barely get by, but I mean barely.
Maybe non profit isnt the way to go. You should go for something else like investors. There are millions of old rich dudes out there just wating for a proposal that makes sense.
teen moms teen moms teen moms. What about teen fathers? Is there nothing out there for them?
It's not ';non-profit'; if you're looking to make money from it.
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