THE MAKING OF A NON-PROFIT: BUSINESS PLANNING
Failing to write a comprehensive business plan is perhaps the most common mistake made by those in the beginning stages of forming a non-profit. While you are not in the business to make a personal profit; you are in the business of making a profit. Most potential board members, donors, and community partners want to see just how you intend to do that.
Your business planning process will also be the very best guide for you to satisfy the questions you must answer when applying to the IRS for tax-exempt status. Adequately filling out IRS Form 1023, Application for Recognition of Exemption, requires you to think through and prepare a few of the following items: Organization Name, Organization Website, Organizational Structure, Articles of Incorporation, Bylaws, Charitable Purpose, Narrative Description of Organization Activities, List of Officers/Directors/Trustees and Five Highest Paid Employee's with Proposed Compensation, Titles and Mailing Addresses, Financial Compensation and Conflict of Interest Policy, Narrative and Strategy of Fundraising Activities, and Three Year Financial Projection.
If your IRS application for exemption is approved, you are now open for public inspection. Your business planning materials and your business plan provide you with the audit trail required.
A typical non-profit business planning process will address all of the critical questions asked by interested parties. The table of contents should include these seven sections:
Executive Summary : This is an outline of your strategy and monetary preview.
Organizational Structure: Describe how your non-benefit is coordinated, including the staff and directorate.
Products, Programs, or Services: What projects or items would you say you are advertising? Incorporate cycles, the advantages of your administrations, future development plans, and rundown anything new, on-pattern, or paying all due respects to a local area need.
Marketing Plan: In this segment depict who you are attempting to reach and how you mean to contact them. List the voting public you serve. Make sense of your opposition and your likely accomplices. How might you advance your administrations and through what materials?
Operational Plan: Where will you be found and how might you convey your administrations? Make sense of exhaustively the way that you will assess your program and its administrations.
Management and Organizational Team: Who is in your supervisory group? Give data about key administration staff and their mastery. List the individuals from your board. Detail their skill, List monetary supporters. Incorporate an authoritative outline. Make sense of lines of liability. Give an evaluation of current and future staffing needs, including how you will utilize volunteers.
Financial Plan: Determine your current and additionally projected monetary status, completely making sense of kinds of revenue. You will incorporate a pay articulation, asset report, income explanation, and a base three-year monetary projection.
FOR YOUR NON-PROFIT BUSINESS PLAN, A QUALITY GRANT PROPOSAL
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On the off chance that progressed admirably, your field-tested strategy won't just guide you to answer the IRS Form 1023 inquiries, it will likewise go about as a record to present to possible significant givers and award creators. It will assist you with enrolling board individuals and local area teammates. On the off chance that you will require a scaffold advance or credit extension, this archive neglecting to compose a far-reaching strategy is maybe the most well-known botch made by those in the early phases of shaping a non-benefit. While you are not in the business to create an individual gain; you are occupied with creating again. Most potential board individuals, givers, and local area accomplices need to see exactly how you mean.
