Valerie Samuels

Q. Denise A. Rivers, in Riverhead, NY, asked: Is now the best time to start a non-profit organization?

Response by Valerie Samuel

Now is a great time to start your non-profit organization because With God All Things Are Possible, according to Matthew 19:26. However, don’t forget to remember when considering setting up a charitable organization, that nonprofit organizations face fierce competition in the market today.

Remember to also do your homework and research all aspects of starting your agency to ensure successful beginnings.  Most nonprofits have more challenges than small businesses when it comes to funding, creating a demand for the service, and competing with other, more established organizations. The quote "if you build it, they will come" does not apply at all to nonprofits!

While starting a nonprofit organization has many of same steps required for starting a regular business, there are significant differences that must be taken into account and through research will uncover the full process, therefore take the time and do it right.

And lastly but not least, remember that starting any organization requires planning, the commitment of a group of people, and the agreement to the restrictions for charitable organizations to comply with nonprofit tax exempt law and accounting methods.  Needless to say, compliance requires the proper team of experts and ongoing administrative oversight to stay on track and in good standing for future funding and grant opportunities.

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