The principle benefit of a non-profit organization is its tax-exempt status. Take a look at some of the criteria you will need to meet in order to become-and to remain-a registered non-profit organization.
Populating the board of directors is a critical step when starting your non-profit organization. Let us give you a few suggestions about the kinds of directors you should be looking for.
If you will be filling a vital role and have the experience necessary to do the job, your non-profit organization may be eligible for certain grants to help you get started.
Make it easy for potential contributors to help you financially. Setting up a merchant credit card account is a simple way to achieve this.
There may come a time when it's necessary to close down your non-profit. Whatever the reasons are, make sure that you've looked at all of your options before you cease operations.
If you try to take the weight of the world on your shoulders, your organization will be in jeopardy from the start. Let Newfoundland and Labrador Credit Union advise you on how to maintain a reasonable scope for your organization, while still helping as many people as possible.
Every organization needs to have rules. A constitution and bylaws will help establish and formalize the rules of your organization, so that everyone from the Chairman of the Board to the one-time volunteer is marching to the same drum.
Non-profit organizations have a lot of the same insurance needs as regular businesses. Talk to us at Newfoundland and Labrador Credit Union and make sure that you've covered yourself for all possibilities.
Inefficiency is expensive, and, since the people who suffer from this expense are the people you want to help, you need to consider the structure of your non-profit carefully.
Whether you're trying to convey information to the people who need your service or getting the attention of the community to ask for their help, marketing is a vital part of any non-profit organization.
Though you may have many volunteers, most non-profits have at least a few paid employees. As with any company, you'll need a payroll plan in place to take care of your staff.
The majority of your funding will likely come from small, individual contributions. There are some ways that Newfoundland and Labrador Credit Union can help you make it easier for the community to support your organization financially.
Most people only give money when they're asked. It's important to know who to ask, when to ask and how to ask if, you want to be successful at raising funds for your non-profit organization.