Y’alls videos are so thorough! So much good information!!! Listening you all’s expertise makes me realize how much there is to know about this stuff… hopefully 🤞🏾someday, with y’all’s tutorial help, and God’s provision, I’ll have the budget to hire y’all to do all this business/finance heavy lifting for me 😅
@@LYFEAccounting You have an email? We recently just got 501c3 status far non-profit organization and I needed a few pointers on how to get it off the ground.
What is a nonprofit? (0:00) Benefits of a nonprofit organization (1:50) Step #1 - 6 BIG questions (4:15) Step #2 - Choosing a Name (7:13) Step #3 - Get Incorporated (8:59) Step #4 - Federal Tax-Exempt Status (12:27) Step #5 - State Fillings, Compliance, and Reporting (15:16) BONUS Tip (17:55)
Hey, still watching the video, but had a question. I created a non-profit, registered with the state, in 2009. But my husband's health got really bad, and I never did anything with it. How do I re-activate it?
Hey Sean, you won’t believe how grateful I am having viewed your clip. I’m here contemplating a youth program and just wanted to gather ideas and I bumped into this. I intend to start a non profit with the sole aim of creating a bright future for youth (in Liberia) through education and sports. This clip has been and it is, very enlightening. Thank you so much! Stay blessed!
Bro thanks for the tips it really helped me to understand and the biggest thing is that I'm incarcerated looking for ways to be productive and to give back to my community as well as becoming an entrepreneur while incarcerated so again thanks bro
This was very thorough and practical. My tax accountant sent me this video, and it has been so helpful as I prepare to start my nonprofit. I have subscribed to the channel, and this will definitely be my go-to station. Thank you for making things much easier to understand.
I think you’ve done an excellent job at educating me and everything you said was very helpful. I have an attorney who is taking care of all my filings, but where I’m hurting as I don’t have an accountant and that’s some thing I need but I literally have no money at all I’m on the edge of bankruptcy, but my lawyer is also filing a lawsuit against the people that forced me into this financial position. He is pretty sure that we will win and that he can get this done quickly. I hope that he’s correct.
Thanks for the break down! The process definitely sounds challenging but, it is easy to comprehend which is motivating!! Definitely helpful! Thanks for the push!!
The only feedback I would like to provide is mentioning filing fees and cost in each step of the process. $25 for name reservation in GA $275 for 1023-EZ $600 for 1023 $105 for raffle licensing GA
Great info Sean , I’m passed stop Two having incorporated the non profit . My next step is step three applying for tax exempt status the federal and state.
This was excellent. Very informative and thorough! Great job, great content and organization. You’re very knowledgeable about the information and it shows. Thanks again 💪🏽
This has been so helpful. I have been considering a non-profit for years. But I must say the ending of your video was truly a hit. Ask yourself before you consider meaning make sure you are ready to comply to all of the standards and requirements before realizing that you did not need it at all. Thanks again for putting this out there for folks like me, that did not know what and how to begin.
I think this was a really good video man. Thanks a lot. I want to start a non profit but it has me thinking about the hoops to go through and the formalities.
Im doing some research i really have been thinking about starting one for a long time it never leaves my mind it seems very challenging you really have to be motivated and passionate about the the course.....im gonna need all the luck
Hi. I'm Camiel, Nonprofit Business Coach. It's not as challenging as it seems. I'm founder of a 501c3 non-profit organization. Check my link and claim your FREE 30 mins call and I'll answer your questions.
I have a question, you didn't speak on salary for the owners, board or the people who are hired that don't volunteer. I'm starting a pre apprentice trade school and this is one thing that I am having a hard time with finding in my research. I understand it is a non for profit but some people have to get paid for working.
Thank you so much This is really the first video that I can truly understand and went right to the point I really appreciate you keep up the good work happen others
You asked a good question of "is a non profit necessary for a group?" I sing with 3 other ladies and we go to a variety of locations to share the gospel through word and music. We have an account with donations that people have already made. I'm not sure how we move forward as we move out on our own from our church handling the funds up to now. I'm not sure if we need a non profit or if there is another avenue we should pursue. Your wisdom would be greatly appreciated...thanks
This was truly helpful. I am trying to start a non profit now. It's called Artful Expression. It's to provide all children regardless of race, income and ability, a way to express themselves through art journaling and drawing and painting. How can I talk with you about this? I was so excited about your video. I've already done a few steps. I have a name and check it out. I've written By laws, have required board members. Please please help. Ty
@@LYFEAccounting focus on youthful attitude in the society to prevent negative influence in their life, waking the dreams of people mostly in rural communities etc
Great information. Very thorough. Loved how you asked the question at the end. It made me think if I really do need to go this route. Gonna check out your LLC video. Thanks!
You actually only need 1 director in the state of California. The roles of Secretary, Treasurer, and board member can all be one person as long as the president is another. You also don't need a "registered agent"--not in the state of California.
Thank you so much for the thorough breakdown, Sean! I have been led to convert my for-profit business to a non-profit. This video is confirmation, but could you educate me and others on the process. Do I need to apply for a new EIN? Should I meet with my local bank to convert my business account or could I leave it as is? Finally, how may one hire Lyfe Accounting for business? Thank you, again!
I do love your video. Your video take away some of my fear. Here is our situation, we had already form a kind of a non-profit organization since last 3 years but mainly aim for our back home people. We have Chairman, Secretary, treasure and so on, but we do not need the office yet. We want to open bank account with our organization name. Do we still have to create LLC in order to open bank account and what are the fees? Thanks
I would like to give travel opportunities to underprivileged children for exposure outside of their current environment. Thank you for this information.
This is a great video and very informative! I just feel as if he’s moving too fast for you to actually take notes and understand exactly the processes he wants us to take #LearningHere
