Proud to be a 501c3 nonprofit

The Fund received confirmation from the Internal Revenue Service today that our tax-exempt, charitable status has been approved. We’re thrilled!

To honor the moment, we thought we’d share a few thoughts about all the work this involved. In the past year or so, here are the major tasks we’ve undertaken:

  • Draft business plan, incl feasibility/competitive analysis. budget, registration timeline, fundraising plan
  • Reserve domain & build website
  • Recruit board members
  • Draft articles of incorporation & bylaws
  • File articles of incorporation with state
  • Prepare registration paperwork (including Statement of Information w/in 90 days of filing articles of incorporation)
  • Set up calendar – file Statement of Information w/ Sec of State of CA every 2 yrs, tax filings, etc.
  • Build advisory board
  • Draft Conflict of Interest policy
  • When Articles of Incorporation are approved, file with Attorney General’s Registry of Charitable Trusts
  • Apply for EIN
  • Get a PO box
  • Open bank account
  • File for tax exemption with IRS
Some of this may not be necessary to a new nonprofit, or at least not at these early stages. The PO box, advisory board, website, all could have waited, for example. But we wanted to build the Fund right — as wisely as we could, building on our collective experience in the nonprofit (and business) world. The work was more tedious and tiring than hard. State laws vary, so we had to seek information on California’s specific requirements, and we drew heavily on the advice offered at Citizen Media Law Project (thank you, good folk!) in particular.
We’ve got a great deal more work ahead of us, but we’re proud to have made it this far. Thank you for your interest and support!