Developing a vision and mission, choosing a name, differentiating the charity, writing a plan and completing the registration process are some tips for starting a charity. A person wishing to start a charity must be committed and passionate about the whole idea.Continue Reading
A vision is an inspiration and should include the descriptions of what the person wants to create. On the other hand, the mission is a detailed description of the intent and purpose of the charity. It should be clear and concise. It should say what the charity does and should identify the target audience and the basic service that the charity will offer.
A charity must have a name, and it is a good idea to choose a name that describes the function of the organization. A charity requires philanthropy for support, and it can encourage donations if it has a mission to help other people in society.
It is important for the person starting the charity to differentiate it from others. Charity organizations compete for funding with each other to support the same causes. Therefore, the person should make the charity stand apart from the rest, while still stimulating the same passion in potential donors of the charity.
Once the person has completed these steps, he should develop a five-year strategic plan for the charity. The plan can include the operational strategy and fundraising strategy.
The individual must register the charity for it to operate as a tax-exempt and nonprofit organization. It is important to use the services of an accountant and lawyer with experience in nonprofit organizations. They can advise on the steps required to avoid breaking government rules.Learn more about Business & Finance