Starting a nonprofit organization is a wonderful way to make a significant social impact and pursue a specific mission that is close to your heart. However, starting a nonprofit isn't an easy feat. It requires lots of time, effort, money, and dedication to make it successful. If you are interested in starting a nonprofit in Virginia, this guide will show you the step-by-step process of getting started.
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**Step 1: Develop Your Idea**
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The first step is to develop your idea for the nonprofit. What is your mission, and what specific issue will you address? Your mission statement should be clear, concise, and specific. It should also be unique and set your organization apart from others that might be working toward a similar cause.
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**Step 2: Choose a Name and Incorporate**
Once you have defined your mission and vision, it's time to choose a name for your organization. You will need to check that the name you choose is not already trademarked. Virginia requires that nonprofits include the words "Corporation" or "Incorporated" in their names, or you can use the acronym "Inc." Research the [Code of Virginia's 13.1-530 on Nonprofit Corporation names] to make sure your chosen name meets state requirements.
Next, you should consider incorporating as a nonprofit in Virginia. This involves preparing and submitting Articles of Incorporation to the Virginia State Corporation Commission. You will also have to register with the Virginia Department of Agriculture and Consumer Services Charitable Organization Division, which requires an annual registration fee of $25. More information on incorporating and registering your nonprofit can be found at the [Virginia State Corporation Commission Nonstock Entity Division].
**Step 3: Create Bylaws**
Your bylaws are the legal rules and regulations for how your nonprofit operates. They define the responsibilities of your officers and board of directors, voting procedures, and procedures for amending the bylaws. Use this resource to learn [how to write Bylaws for a Virginia Nonprofit] and tailor it to your organization's specific needs.
**Step 4: Apply for Tax-Exempt Status**
After incorporating, the next step is to apply for tax-exempt status from both the state and federal government to exempt the nonprofit's donations and income from taxes. To apply, fill out a [Form 1023]((Application for Recognition of Exemption under Section 501(c)(3) of the Internal Revenue Code)). Nonprofit status is granted under 501(c)(3) of the Internal Revenue Code.
**Step 5: Obtain Licenses and Permits**
Once you received status as a 501(c)(3), you may still need certain licenses or permits to operate according to Virginia State Law. For Example, once you receive subscriptions, donations, sales, or drive for donations you will need to collect and remit State sales and use taxes remittance to the Virginia Department of Taxation. Search and Apply for other permits or Licenses via this [Department of Minority Business and Venture's VA Business Navigator Resource].
**Step 6: Establish a Board of Directors**
Your nonprofit board must have at least three members, one of whom serves as the Secretary. Members should share your organization's values and help steer your nonprofit toward your goals. You should create a job posting or discuss with people your personal and organizational network to gather potential board members. Make sure board members fill out an agreement that lists their responsibility as a director, obtain signatures, expectation as a director, any potential liability and details Board meetings and minutes. Check out the Virginia Secretary of State's [guide on Nonprofit Board task].
**Step 7: Submit paperwork and keep careful records**
Keep your organization up-to-date with state and local regulations. Keeping careful records and hiring an accounting firm to track the organization's finances and other documentation is important. Keeping a strong and accurate filing system will help annual and periodic reports. Whenever business is conducted reissue steps 3 or 6, board meeting organization, agendas, and minutes.
These Seven Steps will steer and encourage a successful nonprofit organization in Virginia. Starting is challenging, however, with consistent persistence gives your voice power. Find communal support and don't hesitate to reach out for mentoring. Referencing other board procedures, attending workshops hosted by other successful NMPOs and being open to considering advice from successful mentors beyond profitability will be the key to success in in setting and achieving specific goals.
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Conclusion
Starting a nonprofit can be a daunting task, but the idea just might ripen into another strong voice. Details for the initial IRS form 1023 and submission procedures may be difficult to learn relating to your specific organizations and ideals, but organizations referring to specifics relatable to all nonprofit agenda's provide resources within Regulatory Departments of the state can be leveraged. Be sure to search and fit the organization & purpose from the applying for permits down to establishing crucial friendships, honing your vision down, and paying the $25 dollar annual fee! Keep moving forward, spot errors found and update records annual is an endearing reason for excellence. Volunteering your support and hosting meaningful events create memories fulfilling higher organizational goals punctuates what people love about nonprofits - memories with community supporters striving to make their foundation prosper. Good luck!
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