Archive for May, 2009
Commonly a Non-Profit
May 24th, 2009 | 
Author: What needs will my organization fulfill in the community? Who currently provides similar services in the community (competition)? What competitive advantages do I have over existing non-profit organizations? What will I do to create demand for my organization and sustain operations?
As you would need to start a for-profit business, you will need start-up finances. The capital will enable you meet your start up expenses as well as help you to obtain professional services such as legal and accounting. You will want to seek legal assistance to incorporate into a non-profit entity. The professional you use will also help you draft a set of corporate bylaws, which will serve as the procedure that the Board of Directors, and possibly the members of the corporation, will utilize to make decisions on behalf of the corporation. Once you have drafted you bylaws, you will hold an organizational meeting to formally create the non-profit corporation. At this meeting the bylaws should be adopted, the Board of Directors should be elected, and all other relevant business should be conducted.
Before developing your non-profit organization, ask yourself the following questions. Do I have the necessary skills and experience to operate a non-profit organization? What managerial and financial resources do I have access to? Who will make up my Board of Directors? Where will I locate my organization?
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Become a Social Entrepreneur
You can start a business by becoming a social entrepreneur. A social entrepreneur recognizes a social problem and uses entrepreneurial skills and traits to start a business that will address the social problem and make a significant change. Success for the social entrepreneur is measured by the impact they have on society as opposed to financial measures.
Your vehicle as a social entrepreneur will most likely be a non-profit organization. Social entrepreneurship is becoming so popular that a growing number of colleges and universities are establishing programs focused on educating and training social entrepreneurs.
Creating a non-profit organization is like creating a for-profit business. Just as you would do when creating a for-profit company, you will need to do some extensive planning before you start filing incorporation papers and applying for your tax exemption from the Internal Revenue Services. Running a non-profit organization will take more that just compassion. Much like starting a for-profit entity, you will have to conduct research and ask yourself several questions.
What non-profit am I interested in starting? What products and/or services will be offered through my organization?
