Giving back to your community and helping those in need is such a great way to make life better not only for you but also for many people. You don’t have to wait until you have become a millionaire to contribute in improving quality life of many people. Today, it is quite easy to spot non-profit organization or philanthropic entity. Lots of people are getting aware of the importance of giving support for those in need. The question is, can you start a non-profit or philanthropic organization? Is it possible for you to be a founder of such supporting organization? The answer is yes you can. However, you may need to go through some stages beforehand.
Growing a non-profit organization
It is important for you to be aware that growing a non-profit organization needs a lot of hard work. It may take years of effort until you can completely establish a well-managed non-profit organization. Besides, you need strong determination to do so. Here are general steps of how to grow non-profit or philanthropic organization:
- First thing first, you should do your due diligence. You need to do your own analysis and research regarding to the non-profit you want to build. Of course, you also need clear objectives of what type of non-profit organization you want to grow, what kind of social issues you want to address in the first place, and find out if there is other organizations who are in the same field as you are going to pursue.
- Duplicating the existing organizations will make you work harder to grow it. Thus, it is highly recommended that you improve or add the services instead of solely duplicating. You will also need data of population within the area you are targeted. It comes along with demographic data to complete your analysis.
- You need to learn about the management of non-profit organization. You see, it is kind of different from managing startup or other business. Your main goal is not to raise profit to benefits the members of the organizations or yourself. Besides, non-profit organization should be organized and operated properly and exclusively. It is advantageous if your non-profit can be tax exempt because you can use the income to fund the causes you support. However, you also need to meet the IRS standard to be tax exempt. Therefore, you also need to learn more about the standard and requirements.