In the News: How to Start a Nonprofit Organization
How to Start a Nonprofit Organization
When we think of entrepreneurs, we tend to picture big names like Steve Jobs or Elon Musk, who founded major for-profit companies. However, plenty of entrepreneurs fly under the radar by creating nonprofits that benefit society.
Running a nonprofit business offers numerous benefits. In addition to making a meaningful difference in your community, you can receive public and private donations to fund your efforts and gain tax-exempt status if you file for 501(c)(3) status with the IRS. There are similarities between nonprofit incorporation and starting a for-profit business, but incorporating a nonprofit isn’t quite the same as launching a for-profit startup, and like any business, it will present some challenges along the way.