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| Re: Running a business
Posted by Julie Rodda  on 1/28/2008, 9:44 am, in reply to "Re: Running a business"
VIP Poster
Bucky
I am glad to hear you have a new board, as it sound as if you will need it. I would interject that your new board would be your first source of needed funds for the research/planning phase you are entering.
If they personally do not have deep pockets, then they will need to access their circles of influence. It appears that once you have this organization moving forward, you will have very great potential for outside funding in the form of grants. However, if your board as the key leadership of the organization are not donating (a version of showing how strongly they believe in the organization) the arena of outside funders will not look as favorably on your group.
Do not neglect contacting your Attorney General's office. They will prove very helpful and provide you with non profit governance materials. Fees for services are extremely common with non profits. I serve on the board of a local non profit with a million dollar budget, which derives 50% of that funding from fees, which are directly invested in services for people. You will need to have clear bookkeeping practices, file your 990's and perform annual audits for transparency.
Hope that helps.
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Julie Rodda
http://www.roddaconsulting.com/
Funding Consulting, Grant Research
& Proposal Writing Services
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