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How to get funding for a nonprofit

Veteran

Vincent Wiggins Fayetteville, GA

For helping foster care

18 May 2019 3 replies Small Business

Answers

Advisor

Patrick E Alcorn Arlington, TX

My best advice would be to start a for-profit business and use the profits to fund your nonprofit. Otherwise, start by developing a business plan that validates the need and highlights how you will uniquely solve the problem. Volunteer your time in the community where you plan to solve the problem and determine who are the key stakeholders and influencers. How big is the problem? How is it currently being solved? How will your solution be different? How will success be monitored and measured? Who else cares? Build your influence and your network of advocates (political, financial, physical, emotional, etc). Then, the secret lies in aligning with people and organizations that care about your cause. Search existing philanthropy sites for donors that are currently giving to your cause. Search local and national grant databases--they are all free--for grant announcements that align with your cause.

Advisor

Jennifer Polhemus Santa Monica, CA

Vincent, you haven't said much about your nonprofit. Is it already formed? Do you have public sector partnerships established?

If you have not yet formed your 501c, don't rush into it. There may be other ways to accomplish your goals. But first, we need a bit more info :)

Advisor

Chet Frame El Paso, TX

Good morning. If you are formed as a 501c tax exempt company, then there are several avenues to find potential support. You can register with the United Way in your area. You can approach your county and state governments for help. There are several foundations - you can find them with Google - that were created to help children that are out of home.

If you are not formed as a 501c, then I would make that the first step in finding funding. Go to www.irs.gov and download their form 1023. Also apply for an EIN for the company.

I also suggest that you get further help from your local SCORE office.

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