Looking for 501(c)3 Information
I'm looking for information on how to form a 501(c)3 non-profit educational organization. The purpose of the organization would be to support the practice of syllabic poetry in English; focusing on the syllabic forms that emerged in the late 20th century. I have not worked this out in detail. Tentatively this would include: a journal, a participatory website, publication of poetry devoted to syllabic forms, and teaching materials (and possibly classes) for these forms.
Syllabic forms are new for English language poetry and the idea of the non-profit would be to assist those interested in accessing and composing in these forms. That's the general outline.
If people have information on what is required to form a non-profit with this kind of focus I would appreciate your input.
Thanks in advance, Jim
Re: Looking for 501(c)3 Information
Nolo Press has a great reasonably priced book about how to form a 501c3. I recommend it.
Good luck w syllabic poetry in English!
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Posted in reply to the post by Jim Wilson:
I'm looking for information on how to form a 501(c)3 non-profit educational organization. ...
Re: Looking for 501(c)3 Information
Jim,
educational and literary focus can be eligible for non-profit corp. status, but there are three main steps you need to take---it is a process. You have to form a California corporation, then apply for Federal exemption and then California. One of the best sites to get an overview of the steps within these steps (such as forming a board of directors) plus links to relevant sources for forms and more detail, is on www.nolo.com. Google: How to form a California nonprofit corporation and select the nolo.com site.
It's not necessary to hire an attorney, but you may choose to use a legal service such as legal zoom.com for the paperwork if this is something you feel you need help with (I have no experience with this company, but a friend used them to form an LLC and was please---so, just mentioning. Beware of other sites that make "easy" promises.)
I am not sure how long the waiting list is to be granted status---there may be a paper backlog and all--I was told some months ago that it can take about a year. I have no idea if this is actually true, but wanted you to know.
Good luck, Gypsey
Re: Looking for 501(c)3 Information
Reading a book on the concept is a great suggestion. You can also get an idea of the cost of setting up an entity (non-profit & other ones) at Legal Zoom. There are other providers who help people set up entities as well.
But here's an issue to consider carefully. People often overlook the on-going costs and hassles of maintaining business entities. For example, if one forms an LLP or LLC, one must pay the California Franchise Tax Board $800/year, even if the entity has no revenue. There are federal and state reports to make, including separate filings with the CA Secretary of State's office. For small ventures, it can be frustrating and costly to formalize things with a special entity.
Usually, a big reason to form a non-profit entity concerns grant money. If you plan on looking for grant funds, you will need a non-profit. But I would research available sources and estimate the likelihood of obtaining funds, to see whether your administrative costs in doing so will be worth the candle.
You can do lots of great service-oriented things, including writing-oriented projects, without establishing a non-profit entity.
Here is another idea. You can collaborate with another non-profit to get grant money. They can act as an agent for your project. That way, you avoid the steps and real costs setting up your own show. Find an educational provider that might be interested in your project and explore a collaborative effort.
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Posted in reply to the post by tommy:
Nolo Press has a great reasonably priced book about how to form a 501c3. I recommend it.
Good luck w syllabic poetry in English!
Re: Looking for 501(c)3 Information
I recommend that you find a fiscal sponsor. That would enable you apply for grant funds much quicker, and they would handle all the accounting. The Volunteer Center is a great resource to help with this.
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Posted in reply to the post by Jim Wilson:
I'm looking for information on how to form a 501(c)3 non-profit educational organization. ...
Re: Looking for 501(c)3 Information
Thanks, everyone (those who posted to this thread and those who sent me personal messages). The suggestions are useful and I am following through on several of them.
Jim
Re: Looking for 501(c)3 Information
This is excellent advice and I would add that sometimes people are naïve about "grant money." Grant money isn't free money--it requires that you meet certain performance benchmarks and you are limited in how you can spend it.
Gypsey
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Posted in reply to the post by Mindful Negotiator:
...But here's an issue to consider carefully. ...
Re: Looking for 501(c)3 Information
The non-profits I've worked with (I'm an EA/tax person) have not been LLCs or corporations. I, too, would get the Nolo Press book on forming one. You can also get IRS Form 23 for free which is the application. It will give you an idea of the structure and by-laws and hoops you need to jump through to acquire and maintain the status. I think the main advantage is that your donors can write off contributions on their taxes which encourages them to give money and you don't have to pay taxes on the work you do through the non-profit organization. Oh, and as to a waiting list - they don't take 10 days to grant the status but it's not that long and you can be considered as operating as one before you are granted official status - I think for a year before you are a "real" non-profit.
Quote:
Posted in reply to the post by Jim Wilson:
I'm looking for information on how to form a 501(c)3 non-profit educational organization...
