Business & Financial Solutions
Business & Financial Solutions
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Starting a Nonprofit? Not So Fast…

There are a multitude of factors involved in a starting a nonprofit organization. The process can seem overwhelming. Especially if you’re not as concerned with numbers, charts, and graphs. Instead, more concerned with the cause and purpose behind your organization. In addition to regular business concerns, there are also factors involving the registration and certification of your nonprofit with the state.

Before the “real work” can begin, you need to do your research. You should ask these important questions:

-What is the purpose and niche behind my organization?

– Are other organizations successfully achieving this same end?

-If not, what are the risks and benefits entailed with traversing this un-trodden terrain?

-If yes, what can I learn from these other organization and emulate and what can I do differently to set my company apart?

-How can I make sure I’ve gathered and learned all the respective resources and knowledge I will need ahead of time?

If you have succinct and satisfying answers to these questions, you’ve probably already done a large part of your preliminary homework. But it’s important to never stop doing research for your nonprofit.

The first thing you’ll want to take a look at is how you’ll become incorporated. Business and Financial Solutions can help you with this. A common misconception is that a nonprofit can be structured in a similar manner as for-profit corporations such as the S-Corp. In reality, a nonprofit is generally set up with a type of entity structure that is specific to nonprofits (nonprofit corporation). Though there are rare occasions where a LLC can become a nonprofit organization.

Your company needs a clear framework and vision. How it operates while staying solvent will be crucial. BFS can help guide you through this process. And you will understand the difference between the corporate structure of a nonprofit, compared to a for-profit.

Among the many forms of nonprofits, the 501(c)(3) is an especially popular vehicle. This is the designation for charitable organizations that you might typically think of when you consider successful and effective nonprofit organizations. When you are pursuing the 501(c)(3) status, you’ll have to demonstrate that you meet the applicable requirements:

Work with the professional at Business & Financial Solutions to get a walkthrough on setting up your nonprofit.

Office Locations In Maryland

5100 Buckeystown Pike Ste 250, Frederick, MD 21704

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17 W Jefferson St Ste 007, Rockville, MD 20850

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Office Location In Virginia

7918 Jones Branch Drive, Ste 405, Tysons VA 22102

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Office Location In Texas

101 E. Park Blvd, Suite 600 Plano TX 75074

About BFS

Visit us in McLean Virginia, Frederick or Rockville, Maryland (Washington DC Metro Area)or Plano Texas

Phone toll free: (855) 557-2222
Fax: (240) 297-1054
E-mail: info@bfswebsite.com

Business & Financial Solutions is a tax and accounting CPA firm. Our offices are located in Fairfax County, VA, Collin County and Denton County, TX, Montgomery and Frederick Counties, MD. Our company is highly motivated in helping individuals and companies (private and non-profit) become successful in start-ups. BFS offers assistance with ongoing small to mid-size business management, consulting, accounting and a variety of tax services.

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