How can i start a non profit foundation to help the poor?

Question

my sister and i were thinking about the people that have a lot less money then us and then we thought about starting a non profit foundation to help people with help full stuff

help!!!!!!!!!!!!!!!!!!!!!!

Answer 1

Let me congratulate you for your project and i wish you all success !.

Nonprofit incorporation is very similar to creating a regular corporation except that a nonprofit must take the extra steps of applying for tax-exempt status with the state in which it incorporates and with the IRS.

The following steps should be taken :-

Select a name that is legally available in your state.

File your "articles of incorporation," and pay a filing fee.

Apply for federal and state tax exemptions.

Create bylaws that will dictate how the corporation is run.

Appoint an initial board of directors.

Hold the first meeting of the board of directors

Apply for any licenses or permits that your corporation will need to operate in your state and local municipality.

In order to qualify for tax-exempt (501c3) status , you should create a concept paper and document your ideas with the structure for the organization you propose and you must share your concept with like minded persons and involve them as initial founders.

Next step would be to contact an attorney to assist you in preparing incorporation filings in your state. After your organization in incorporated, obtain an employer ID number, and apply for 501c3 tax-exempt status with the IRS.

Your funding requirements will depend on various factors , for which you have to prepare a plan which will be of use to you in approaching potential funding sources  

Answer 2

You could get started right away helping people by joining an existing effort. There are nonprofits in your local community to help local people with food, clothes, housing, medicine, etc. You can find them via http://www.volunteermatch or the nearest United Way. You could also support an organization that helps people in developing countries. UNICEF, CARE International and the World Food Programme are organizations that do great work.

If you really want to start your own nonprofit instead, then you won't get started helping people for many months, maybe even more than a year, while you go through the many processes you need to complete. To start a nonprofit, you first need to get a very impassioned group of people together who support your idea and will provide some start up funding and serve on the board of directors, you need to get letters of endorsement from existing organizations saying this program is needed, you need to have data that shows your target group is in need whatever service it is that you want to provide and that they are not served otherwise, you need to have profiles of your staff showing they have experience and expertise, and you need to have a draft of what your first year's budget would look like (what expenses you expect to incur, what you expect to pay staff, etc.). You aren't going to have any money until you have donors, and you aren't going to have any donors until you have a viable, solid business plan for your nonprofits first five year's of existence. At some point, you need to decide if you are going to be a member of the board (and, therefore, not paid), or if you are going to be, say, the Executive Director, reporting to the board (and you can be paid -- and fired -- by the board).

And then there's the paperwork:

Starting a Nonprofit Organization

http://www.managementhelp.org/strt_org/s...

(one of my favorite resources)

Starting a Non-Profit

Checklist- The Things You Must Do to Start a Nonprofit Organization

http://www.ctnonprofits.org/pages/NonPro...

IRS Tax Information for Charitable Organizations

http://www.irs.gov/charities/charitable/...