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CPA New Nonprofit Checklist
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CPA New Nonprofit Checklist

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