Posts Tagged ‘Tungle’

I think when we hear free coming from a business we think there is a catch to it, and while there can be, it isn’t always the case.

On Wednesdays from 10:30am to 11:30am, I have blocks of 15-minute time slots set aside for people to use to ask questions about the start-up process for creating a nonprofit. While this event has had some attention, I am hoping that every Wednesday for that hour I’ll be completely busy answering questions. I truly want to help you get started. There’s a lot to consider when starting a nonprofit, and it is all doable. I’m here to encourage you, and if you decide you want to use my services to start your nonprofit that’s absolutely fine too!

So, I thought I would share a question that I answered from one of the calls I’ve had so far. Perhaps this will give you an idea of what to ask as you consider your nonprofit vision.

What percentage of overhead should be included in your budget?
As I stated in an earlier post Budget-Fudge It, your budget needs to be thought through careful and absolutely realistic. If it will cost you more in overhead than the program itself, you need to show that clearly in your budget and you program documentation. This is where an accountant would be instrumental in helping you filter through the finances of this organization creation.

Take the time to Interview several accountants, if you don’t have one. Make sure to let them know you are creating a nonprofit. Find out if they have worked with a nonprofit before, and just how familiar are they with the 990 form. (This a special form that you’ll have to fill out for taxes as a nonprofit.)

If you need recommendations for accountants, here are a few places to try for referrals: 1) Local Chamber of Commerce, 2) Local Business Network International (BNI) group, 3) referral from family or friends, and 4) referral from other business owners.

Remember, if you have a question regarding your start-up nonprofit, please select a time during my free office hours on Wednesday from 10:30am to 11:30am, and get an answer!