Step/Task | Role | Timeline |
Research Community Demographics. Will need to know if community can sustain non-profit
| Founding Group | Day 1 |
The stakeholders, should seek out individuals, potential donors, foundations, and other community groups that can work together with a new organization.
| Founding Group | Month 1 |
Sources for Board Members and Volunteers - Should recruit board members from the pool of stakeholders and from prominent members of the community or the geographic area in which the oragnization will be located. Will possibly need to recruit volunteers.
| Founding Group, Volunteers | Month 3 |
The Mission Statement - Should be a combination of the needs and market analysis. It should quickly explain a nonprofits mission to the public and to the potential board members and volunteers.
| Founding Group, Volunteers, Board Members | Month 5 |
Articles of Incorporation - One of the most important processes is drafting the Articles of Incoporation (the “Articles”). They serve as the official document of the non-profit that list the nonprofits purpose and the main aspects of the organizations and governance. State code lists certain mandatory and optional provisions to be included in the Articles Va. Code Ann 13.1-804, 13.1 818.
| Board Members | Month 5 |
Payments - A cooperation authorized to transact business must submit payment to the SCC for all fees, fines, penalties and interest assessed, imposed, charged or to be collected as required by the SCC. A cooperation must pay fees for: Charter and entrance, Filing documents, annual registration, SCC information, Miscellaneous charges.
| Staff memebers | Month 7 |
Annual Report - Must deliver an annual Report with thre SCC.
| Staff members/ Board members | TBD |
Drafting By Laws - A non-profit corporation must file a governing document, such as the bylaws, in order to secure tax-exempt status.
| Staff members/ Board members | Year 1 |
Size of Board - Large Board (More than 21 members), Mid-size Board (Up to 21 members), Small Board (Up to 12 members).
| Board members, Directors, Staff members | Year 1 3 months |
Applying for 501(c)(3), this establishes that non-profit does not clare a profit, but instead allocates all net revenue to the public interest furthered. Also relieves organization from federal income taxes.
| Staff members/ Board members | Year 1 Month 6 |
IRS Application, will need to submit non-profit application to IRS with proper documentation to get approved.
| Staff members/ Board members | Year 1 Month 9 |
Governance - Recognizing the legal obligations and duties of the non-profit members.
| Staff members/ Board members | 2 years |
Work Cited
https://law.richmond.edu/faculty/files/HowToFormANonprofit_1st_ed-Chapter1.pdf
https://law.richmond.edu/faculty/files/HowToFormANonprofit_1st_ed-Chapter2.pdf
https://law.richmond.edu/faculty/files/HowToFormANonprofit_1st_ed-Chapter3.pdf
https://law.richmond.edu/faculty/files/HowToFormANonprofit_1st_ed-Chapter5.pdf
https://www.scc.virginia.gov/media/sccvirginiagov-home/business-home/business-faqs/virginia-nonstock-corporations/nptoolkit.pdf
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