The final project for this course is the hypothetical creation of a nonprofit organization. The submission represents an authentic demonstration of competency because it addresses all major considerations needed to establish and run a nonprofit organization. In Milestone One: Establishing Your Nonprofit, you will focus on the corporate structure and legal requirements when establishing a nonprofit. In this milestone, you will also address the mission of the nonprofit you have created. Defining the mission of the nonprofit is essential because it guides the organization in its decision making. You will also identify the state that you will establish your nonprofit in$.$ The state that the nonprofit is established in is important because each state has slightly different legal requirements for establishing a nonprofit. You will learn later in this course that each state has slightly different annual tax and legal filing requirements that you need to be aware of after your nonprofit is established to maintain nonprofit status within the particular state.

Prompt

Address the critical elements listed below.

Establishing Your Nonprofit

Describe the nonprofit organization you envision starting.

Include the following in your description:

The name and mission of the nonprofit; include any other details you feel are important or interesting

The state your nonprofit is located in$$preferably the state you are currently located in

Discuss the corporate structure and corporate governance of your nonprofit

Explain how your corporate structure meets nonprofit standards.

What is the makeup of the board of directors?

What qualifications do they have?

What might cause conflicts of interest?

What is the makeup of your finance$/$audit committee? What is their role?

Explain the legal requirements and process for becoming a nonprofit

Consider both federal and state requirements needed to establish the nonprofit.

Research and report what agencies you will need to contact in order to establish your nonprofit. Cite your sources.

Research and report what forms are needed to establish your nonprofit. Cite your sources.