Do you have initial funding?

Do you have initial funding?

Forming a nonprofit can be a costly endeavor.

State incorporation filing fees range from $8 in Kentucky to $220 in Maryland. States also have other required filings with a wide range of filing fees. The IRS charges between $275 and $650 in filing fees depending on the type of tax-exempt organization you create. Programming expenses, websites, and operational costs should also factor in the initial costs. You may also consider seeking the aid of a nonprofit consultant, like BryteBridge, which adds to the initial expenses but will remove a lot of the headaches involved in the process.

It’s essential to consider the initial costs and develop a fundraising plan almost entirely made up of private donations to cover planned expenditures. While private donations will make up most of your funding (especially to start), there are other options available. We’ll explore all of those later in this guide.


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