January 2020 – Rick Szilagyi, Principal
We have written articles about the commonly referred to “stages of growth,” relative to both the nonprofit organization and the nonprofit board of directors. Of course, before being able to grow from infancy to adulthood, the organization has to come into being. Let’s look at what that entails, and then let’s get to know GoodWork, a new, exciting professional resource based right here in New Hampshire.
The Nuts and Bolts: Sources to Read
To establish a new nonprofit, there are several steps that need to be addressed, as well as several tasks. This is definitely rocket science… but necessary. Articles worth reading include one from GRANTSPACE1 and one from the Council of Nonprofits.2 Both detail the steps you need to know and execute.
Summary: How to Start a Nonprofit
- Do Your Research – Needs assessment; Are there others in the same space?
- Build a Solid Foundation – Mission, board, etc.
- Incorporation and State Forms
- Filing for Federal Tax-Exempt Status – Contrary to popular belief, there are about 30 different 501(c) categories, and 501(c)(3) is not the right one for every nonprofit.
- Ongoing Compliance
New Local Resource: Introducing… GoodWork!
The above steps are only the beginning. It takes a lot of different talent sets and experience sets to expeditiously accomplish success. Imagine a resource of mentors and professional services available to help you through these early stages of your nonprofit’s life. It’s here!
Recently, two longtime New Hampshire-based professionals have been established as the leaders of a “nonprofit incubator” located in Portsmouth, NH. CEO Molly Hodgson and COO Maria Sillari have over 50 years of nonprofit experience, and have joined forces to establish GoodWork, which will assist nonprofits in the effective and efficient delivery of their missions.
Lexian was fortunate to be invited to the kick-off meeting of GoodWork’s professional partners:
Please read the December 21st SeacoastOnline article about this exciting new venture!3
- How Do I Start a Nonprofit Organization?
- How to Start a Nonprofit
- Incubator Will Soon House Nonprofits at Historic Portsmouth Cottage
The Lexian Management newsletter is for informational purposes only.
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