Steps to Form a Nonprofit Organization
Choose a business name
Establish the Board of Directors and Officers
Get an EIN #
Create the Articles of Incorporation-Board Approval and Signatures
Document bylaws-Board Approval and Signatures
Set up the Corporation with the state Corporation Commission
Apply for your IRS tax exemption (file an IRS Form 1023)
Apply for a state tax exemption and charitable contributions registration
Set up a bank account
Obtain any necessary licenses and permits
How Wheaten Sterling can assist
1. Initial Consultation and Planning
We are happy to offer an initial consultation to hear about your vision and provide input on options and next steps. No charge for initial consultation.
2. Strategic Planning
A mission and vision statement are needed to apply for your 501c3 nonprofit status. It is important that the founding members are in agreement with the vision, goals and structure of the organization. We facilitate a strategic planning meeting and documentation of the organizations mission, vision and goals for the future. Price quote
3. Process Consultation
The entire process of applying for nonprofit status can be overwhelming and there many decisions that must be made prior to applying, during the application process and following your application and approval. We have helped many organizations through the entire process and can provide our expertise to not only take you through the process, but assist with completing many of the forms and documents for you. If you opt for the full process consultation, the following steps #4-#7 below are included.
4. Articles of Incorporation
Your organization is required to have a signed document for your articles of incorporation. We have templates that you can use to create your articles of incorporation and modify to fit your organization. There are specific federal and state requirements for the articles of incorporation and we ensure that you meet them.
An organization’s bylaws are the guidelines for how your organization operates and are therefore a critical document as well as a requirement for federal and state filing of your nonprofit. We have templates that you can use and modify, and we help you with making the decisions required for your bylaws. We work with your organizations executive team to review each of those decisions and document them for your bylaws, making it so much easier to put together this very critical document.
6. A 5-Year Budget required for IRS Form 1023
The 501c3 application to the IRS for approval to become a nonprofit organization is the Form 1023. The application requires you to have a 5 year budget. Budgeting is difficult for many organizations, especially at the beginning of forming a new organization. We have many years of experience with many diverse organizations to make putting a budget together simple and easy for you.
7. State Registrations
Every state has their own filing requirements for nonprofit organizations starting with their Corporation filing requirements and the registration for your nonprofit that is required before you can solicit contributions. We can make this process simple and easy for you.
8. Annual tax report filing – IRS 990
Even after you have been approved as a 501(c)(3) nonprofit organization, you are required to provide an annual IRS 990 filing or you can lose your nonprofit status. We can complete the 990 for your organization and keep you in compliance with the federal and state requirements.