Kimetha
How much does it cost to start a nonprofit?
I want to open a nonprofit that offers services that aren't already provided in my community. I'd like to serve the homeless population with applications, acquiring state ID, provide a mailing address and message phone number, referrals, and a safe place to talk.
#nonprofits #homelessness #business #business-development #nonprofit-management
2 answers
Lev Tatz
Lev’s Answer
If you think things through well, find donors and volunteers, your only cost could be to apply for tax exempt status with the IRS https://www.irs.gov/charities-non-profits/form-1023-and-1023-ez-amount-of-user-fee
But even that might not be necessary right away. I would focus on what is truly necessary to start making an impact.
I'd be happy to answer further questions you may have or tell you more about how my friends and I started a non profit.
Sean OSullivan
Sean’s Answer
Hi Kimetha,
You will have several upfront costs you will need to consider, much like any regular business. First, every nonprofit needs a '990 tax form' which costs about $667 dollars to prepare. Next you will have to consider all the costs of the materials needed when getting state ids, applications, etc prepared by your state. If you want a brick & mortar location you would need rent and office supplies. I would also consider how many people would work with you, and whether they would be volunteers or full-time staff.
I would recommend looking in how you could so this without having to pay for rent at any solid location, and I would see how you could find people that would be interested in volunteering their time in helping you work with the homeless in your area. Good luck!!