It’s become an increasingly popular trend for people previously involved in larger companies to begin their own businesses, especially since the recession. While lots of these start-ups are for-profit organizations, there are also plenty of new non-profits out there as well. People feel passionate about many different causes, and want to do something that really makes a difference. Maybe you’re wondering how you can start a charity for a cause you care about and what is the best way to go about doing so. Here’s a short guide with some highlights of important information to know before starting your own charity.
Pick your passion
The first step you’ll need to take is deciding what cause you want to focus on with your charity. Make a list of what you’re passionate about and then decide which one you’ll feel the best donating lots of time, money, and effort to in the upcoming months and years. Pick a cause that you believe you can make an actual difference in and pursue that as the focus of your charity.
Plan what you’ll need
Once you’ve chosen a cause, figure out what you’ll need for your charity to succeed. A lot goes into starting a charity, so you should figure out what materials you’ll need, how you plan to utilize social media and get the word out, who’s going to help run it, and where it’ll be located. When you’ve figured out all these details, you can start making your charity a reality.
Figure out legal issues
There are a lot of small legal details to take care of when you start running your own charity. You should make sure you’re properly registered as a charity and have an official status. Also know if volunteers or employees of your organization need to have background checks or certain clearances before they become involved with your cause.
Figure out financial issues
One of the most important issues when starting a charity is understanding the intricacies of taxes and other financial reporting so you don’t have any legal problems down the road. Here’s a guide that best explains how to properly handle taxes. It’s also vital that you know how you’ll be funding your charity, so decide how much of your personal funds will be going into it, whether you’ll have donors, and if fundraising is a good option for your organization.