Where Form 990 Schedule H Hospitals 2023-2024

Hey everybody, this is Steve with Nonprofit Ally. Today, I'm going to go over how to start your nonprofit. Step one, if I was to spend a lot of time already thinking about your nonprofit, the mission you're going to accomplish, the programs you're going to develop, possibly the products you're going to create, the board you're going to have, a few nonprofits. But the first thing the state's going to want to know before you do anything is what is your name. In fact, for some states, this is so important they're going to have you pre-register your name prior to filing your articles and corporations. So, step one, pick out your name and make sure that no other entity or organization in your state is using that name. Step two, it's time to incorporate. Filing your Articles of Incorporation with your state is different from state to state, but it's basically a pretty easy step. In fact, in some states, it's too easy. Some states just ask for your name, your purpose, your founding members, your location, and that's it. Which seems really simple, but if you're trying to get your 501(c)(3) status, then you're going to want to make sure that you have other things included in your Articles of Incorporation. The IRS is going to want to see a dissolution clause, as well as specific language about your purpose that qualifies you for 501(c)(3) status. Step three, create your organization bylaws. Bylaws are basically your organization's internal affairs guidebook. They should cover things such as electing board members, elected officers, memberships and meetings, books and records, as well as a couple of things the IRS is certainly going to want to see, which include an indemnification clause, which is basically a hold harmless clause for your board of...