Explore the "CPA New Nonprofit Checklist", a comprehensive guide covering every aspect of launching a successful nonprofit organization, from inception to operation.
1
Identify the need and purpose for starting the nonprofit entity
2
Assemble a team or board of directors
3
Develop a strategic plan including mission and vision statement
4
Draft the Articles of Incorporation and file with state agency
5
Create and adopt Bylaws of the nonprofit organization
6
Obtain an Employer Identification Number (EIN) from the IRS
7
Approval: EIN Acquisition
8
Apply for federal tax-exempt status using IRS Form 1023 or 1023-EZ
9
Approval: IRS Form 1023/1023-EZ Filling
10
Prepare and submit state tax-exempt applications as required
11
Establish a record-keeping system for financial and legal documents
12
Set up a dedicated bank account for nonprofit transactions
13
Plan and prepare an initial budget
14
Choose a fiscal year and begin accounting activities
15
Approval: Fiscal Year and Accounting Setup
16
Develop a fundraising plan
17
Register with appropriate state agencies for fundraising purposes
18
Secure necessary insurance coverage
19
Establish a website and/or other marketing channels
20
Hire staff or recruit volunteers as required
21
Approval: Staff/Volunteer Onboarding
Identify the need and purpose for starting the nonprofit entity
This task plays a crucial role in the overall process as it sets the foundation for the nonprofit entity. It involves identifying the specific need or issue that the organization will address, as well as clarifying the purpose and goals. The desired result is to have a clear understanding of the nonprofit's mission and its impact on the community. To complete this task, consider conducting research, engaging with key stakeholders, and brainstorming potential solutions. Challenges may include narrowing down the focus or gaining consensus among team members. Resources that may be helpful include market research reports, community surveys, and case studies.
1
Reducing poverty
2
Improving education
3
Promoting health and wellness
4
Protecting the environment
5
Advocating for human rights
Assemble a team or board of directors
This task is essential for building a strong foundation for the nonprofit entity. It involves identifying individuals who are passionate about the mission and are willing to serve on the board of directors or as members of the team. The desired result is to have a diverse and skilled group of individuals who can contribute their expertise and support the organization's goals. To complete this task, consider reaching out to potential candidates, conducting interviews or meetings, and evaluating their qualifications. Challenges may include finding individuals with the right skills or availability. Resources that may be helpful include professional networks, online recruitment platforms, and reference checks.
1
Finance and accounting
2
Legal and compliance
3
Marketing and communications
4
Fundraising
5
Program management
1
Create job descriptions
2
Review applications
3
Conduct interviews
4
Check references
5
Make final decisions
Develop a strategic plan including mission and vision statement
Draft the Articles of Incorporation and file with state agency
Create and adopt Bylaws of the nonprofit organization
Obtain an Employer Identification Number (EIN) from the IRS
Approval: EIN Acquisition
Will be submitted for approval:
Obtain an Employer Identification Number (EIN) from the IRS
Will be submitted
Apply for federal tax-exempt status using IRS Form 1023 or 1023-EZ
Approval: IRS Form 1023/1023-EZ Filling
Will be submitted for approval:
Apply for federal tax-exempt status using IRS Form 1023 or 1023-EZ
Will be submitted
Prepare and submit state tax-exempt applications as required
Establish a record-keeping system for financial and legal documents
Set up a dedicated bank account for nonprofit transactions
Plan and prepare an initial budget
Choose a fiscal year and begin accounting activities
Approval: Fiscal Year and Accounting Setup
Will be submitted for approval:
Choose a fiscal year and begin accounting activities
Will be submitted
Develop a fundraising plan
Register with appropriate state agencies for fundraising purposes
Secure necessary insurance coverage
Establish a website and/or other marketing channels
