President & CEO: Shamrock Development Associates. Founder/Managing Member: Government Deal Funding, LLC Founder: Global Deal Funding Advisory Services Trainer, Entertainer, Author, Developer
The funding of a non-profit can be a bit more complicated than banging on the doors of a bank. First, you will need to set up the corporation, next file for non-profit status with the IRS (1023), and lastly receive tax-exempt status from your state of incorporation. At the point of submission to IRS, you have a window of roughly 2 years to fundraise while you receive your approvals. However, many foundations will not fund you during that time. That leaves you to grass roots funding.
Your success will be based on a solid business plan, and a board that is experienced in oversight. Focus on the income and expenses when you write your business plan.
Good luck in your endeavor, you may find the reward in helping people gets overshadowed by the daunting task of running the company. Keep your mission statement handy!
The knee jerk reaction to this question could be, "Why would you want to do something you know nothing about?"
Perhaps, you like the trade? Perhaps, you see the value? Or just maybe, you see something else that intrigues you! The best part of the answer here is that no matter what, you will need to challenge yourself physically, emotionally, and financially.
As others have said, the availability of online training is phenomenal. You could gleam tons of knowledge, or even just enough to be dangerous! Once you think you have figured out the space, work at it for 1 more hour.
That said, how do you think a kid out of high school becomes an electrician? Starting as an apprentice, the student will become well versed in both text book theory and boots on the ground theory.
We work with a number of beginners in the field of finance, grant writing and real estate. We are always happy to schedule a call to discuss your needs and point you in the right direction!
As the others have pointed out, your stated mission is a key component to the strategy of raising funds for your organization. Often, in my business, I have a non-profit partner included in the sponsorship or the ownership structure of the entity seeking funding. Non-profits open you up to a world of grant opportunities, foundational support, and government funding.
If your organization is solely focused on putting on conferences, you can raise money in educational areas, or in the target specific areas you are geared towards.
I encourage you to seek funds in your local area through regional foundations, focusing on your mission, your ability to create jobs, and the long term benefit your organization will provide to the communities you serve.
To start that process, make sure you have your mission statements, business plans, board resumes all ready in a package to send. Focus on financials, and focus on the intended outreach. Grant organizations like to get the broadest reach.
For more information, visit us at: www.governmentdealfunding.com