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I have what I believe is a pretty good idea for a non-profit with a high likelihood of raising funds in the 7 digit area.

Ok, now the reality..

This idea is related to an area I have been involved with for the past 3 years.

I have no experience in setting this thing up although I have a handle on the necessary steps to do it.

I do not plan on using any of my own funds.

I alread have a name/domain name, logo idea and have written a business plan & mission statement.

So im wondering if crowd funding is a good avenue to raise funds for attorney or CPA to do the set up/application with the IRS and to hire someone to build a non-profit specific website?

I'd appreciate any feedback from anyone.

Thanks

I have what I believe is a pretty good idea for a non-profit with a high likelihood of raising funds in the 7 digit area. Ok, now the reality.. This idea is related to an area I have been involved with for the past 3 years. I have no experience in setting this thing up although I have a handle on the necessary steps to do it. I do not plan on using any of my own funds. I alread have a name/domain name, logo idea and have written a business plan & mission statement. So im wondering if crowd funding is a good avenue to raise funds for attorney or CPA to do the set up/application with the IRS and to hire someone to build a non-profit specific website? I'd appreciate any feedback from anyone. Thanks

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[–] • 1 pt

501c3 tax filings have become much more difficult lately. Do your homework on that if you intend to have a nonprofit.

[–] • 0 pt

Thank you for your feedback.

[–] • 1 pt

My advice to you would be to make sure you are 110% on all laws, regulations, taxes and insurance, as this will also give you guidelines on how and in which way to set things up. Consider hiring an outsource accountant and having him consult you on this, preferably someone with knowledge of the industry you are in, look them up, they shouldn't be too expensive.

Website wise, you could save a lot of money if you make it yourself. Worpress + Elementor is easy to learn and use, you could try finding a course on https://www.udemy.com/ or maybe even a decent Youtube video on it.

I've been busting my balls trying to set up my startups for a number of months lately, all while working full time.

I have everything set up right now and just need funds to get me started. I applied for loans with the (((banks))) and they just told me to get fucked since they don't want to give you a loan unless your business is turning profit, they don't care if you are only starting out. I've considered looking for investors as last resort, but if anyone can give me some advice on getting funds I would appreciate it. I don't believe this type of business I'm in will be successful at crowd funding, but I never tried or considered it too much tbh. I'm in Europe, not US.

[–] • 1 pt

Hey, thanks for the feedback. Most grateful. This site might give you some insight to your fundraising efforts. https://donorbox.org/

[–] • 0 pt (edited )

Website wise, you could save a lot of money if you make it yourself. Worpress + Elementor is easy to learn and use, you could try finding a course

I agree, but I would suggest using something more secure and complete, like . A little more work but well worth it. And like WordPress, it's free and open-source while more highly respected by many.

[–] • 0 pt

Yeah, I've got a pretty good idea for one myself. I have talked to an accountant, that didn't help very much. I have spoken to a lawyer, and that was a lot better. The lawyer just so happens to specialize in non profits. I'm not sure that now is a good time for one like mine. With everything going nuts and almost everyone worried about the economy would there even be enough people that are willing to donate? Who knows? I have a Great idea for an advertisement! It would probably hit home to a lot of people! Getting it out there and in front of people is the challenge. Sorry I don't have any good advice for you but I certainly hope you get yours going and it really takes off!

[–] • 0 pt

Professional bookkeeper and CFO. I have a colleague who specializes in non-profit books and tax. I've referred several non-profits to them, and everyone I've sent has been well taken care of.

If you're serious, send me a PM.

For website, it depends on how fancy it needs to be. If you don't need super fancy, you can build your own cheap and easy. If you need a site that can process payments, you need to be a lot more careful with the provider and what you do with the site. I did my own site when I first started out, and waited until recently to get a solid site done by professionals.

[–] • 0 pt

Hey, thanks a ton. I'll let you know when I get to the point of needing a cpa. Thanks