Formation Support

The excitement of forming a brand new ministry is always tempered by the realities of formation:

• What does "tax exempt" mean? There's actually a difference between a not-for-profit and a nonprofit?
• How do I file for a 501(c)(3)?
• How do I establish a mission that can stand the test of time? Should we be more general or more specific in what we state to the IRS?
• How do I create a quality board? What kind of backgrounds should I target?
• What will set our ministry apart from all other ministries? How do we make our point of differentiation clear in the minds of potential donors?
• What associations should we belong to?
• How do we reach a donor base?
• Should we be connected to another ministry or organization, like a church? What are the benefits to being related versus on our own?
• What should I expect from my board? Can they help me raise funds?
• Speaking of funds . . . does anybody know how we can fund this ministry over time?!?

Ministries will live with the consequences of decisions like these for the rest of their lives! Organizations which have been turned down by the IRS because of a poor initial filing find that subsequent submissions are scrutinized even more because of the precedence established by their original materials. We know of one ministry that was told by the IRS that they would be reconsidered for tax exempt status once they had completed an initial year of business as a for profit enterprise. It goes to show how much the IRS understands the differences in running a for profit versus a nonprofit organization!

The IRS may not know the difference, but we at Cool Strategies do. We have helped brand new organizations identify their products and services, file an effective tax exempt filing, establish public awareness, and raise funds. As one of our clients said "I know that if I get the right help up front, it is going to save me a lot of money in the long run."

Let us know how we can help you turn your ministry dreams and passions into reality.