Find solution
Non-profit cooperative or collective organization?

How can I start this nonprofit organization? All advice is welcome.?

  • I am 19 years old and I want to start a nonprofit organization. This is how I envision it: This organization will organize and promote benefit concerts put on by local artists, and the profits made from these concerts will be donated to various other charities. I do not expect to make more than a few hundred dollars per concert with this organization. The only person who will be overseeing the activities of this organization is myself – there will be no “board of directors,” since I will be completely in charge of everything this organization does. All the concerts will be organized by me, with the help and assistance of others where needed. This organization will also promote and encourage children to get involved in music, to get an education, and to extend that same encouragement to others. Is it possible to put together an organization like this? The profit made from the concerts will be used to pay for the costs needed to organize the concert (such as paying the venue, etc.), while the rest will be paid back to itself so that that money can pile on top of itself for future concerts. Money from that will be donated to other causes and organizations. I will keep a financial statement of all of this that will be updated with every concert that is put on, and with every check that is sent out to others and this statement will be readily available upon request. Is it possible to form an organization like this? I know I will have to file for tax exemption; what is the paperwork like? Will I need an attorney? How much will I have to pay the IRS to get this organization up off the ground? Thank you.

  • Answer:

    You will not be paying the IRS. What you need is a lawyer to draw up and file the paperwork with your state so that you can get approved as a non profit organization. And yes there will be records that will need to be kept, check with a good accountant for that. It's good idea, I think you will find that you will need more people than just yourself to run such an organisation. Start with checking to see what the requirements are for your state to qualify as a non profit.

KMcG at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

You will not be paying the IRS. What you need is a lawyer to draw up and file the paperwork with your state so that you can get approved as a non profit organization. And yes there will be records that will need to be kept, check with a good accountant for that. It's good idea, I think you will find that you will need more people than just yourself to run such an organisation. Start with checking to see what the requirements are for your state to qualify as a non profit.

KMcG

Briefly, you need to establish a corporation in your jurisdiction. You then register the organizaiton with your State's Office of the Attorney General. Then you apply to the IRS for tax exempt status. You really need to go to the IRS web site, look under the nonpfrofits/charities tab, and look up the "Life Cycle of a Tax-Exempt Organization" in order to find out what category your concepts fits into, and to look through the documents required to apply for the designation and maintain it. BTW, you are going to need a Board of Directors if you want to get this off the ground. It is required; you will have to find a group of people hopefully with contacts in the music industry who share your vision. Honestly what you propose doesn't sound like it meets the standards and definitions of a 'nonprofit' - you want to start a 'regular' organization that donates the profits to charity and that is not the same thing as actually being a charitable organization.

Piggiepants

Briefly, you need to establish a corporation in your jurisdiction. You then register the organizaiton with your State's Office of the Attorney General. Then you apply to the IRS for tax exempt status. You really need to go to the IRS web site, look under the nonpfrofits/charities tab, and look up the "Life Cycle of a Tax-Exempt Organization" in order to find out what category your concepts fits into, and to look through the documents required to apply for the designation and maintain it. BTW, you are going to need a Board of Directors if you want to get this off the ground. It is required; you will have to find a group of people hopefully with contacts in the music industry who share your vision. Honestly what you propose doesn't sound like it meets the standards and definitions of a 'nonprofit' - you want to start a 'regular' organization that donates the profits to charity and that is not the same thing as actually being a charitable organization.

Piggiepants

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.