Thursday, January 29, 2009

How much for a 501(c)3?

I called a few law firms recently, trying to find quotes on the cost of forming a non-profit. I was quoted as high as $5,000 + IRS fees of $300-750. I could not believe it. I want to enhance our ability to do good and share blessings, but $5K? I immediately began looking for options.

I have found an option that seems viable. I found NorthStar http://www.501c3solutions.us/ on Google. They operate as a non-profit with two parts (1) child advocacy and (2) helping projects become non-profits. The proceeds they receive to help non-profits, go towards the Child Advocacy part of their group. I have begun to research them by reviewing their rating "A" on the BBB http://www.orlando.bbb.org/codbrep.html?ID=201229843&cons=y and the next step is to contact individuals on their refferal list. Their price quote was about a 1/4 of the law firm, which seems like an option. Especially, after hearing the $5 price quote. Right now, I am still looking into other options. I just know that I am not paying $5K that I don't have. Oh yeah, I don't have any right now. Yet, this is where prayers and positive thinking comes into play.


Today's Ratings:
Meeting Project Goals: 3.5 out 6 (Figuring out how to create more volunteer groups in other areas; placed an ad on Facebook to run today & working on contact people on Northstar's referral list. )
Personal Life: 2 out of 6 (Still at a 2)
Need a Vacation: 889 out of 6 (Dreaming of Brazil as I improve my Portuguese listening to a podcast on my ipod.)

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