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Q&A: How Can I Get Non Profit Status

Q&A: How Can I Get Non Profit Status

One of our readers wanted to know how to get an event non profit status.

Question:

I would like to plan a charity concert to raise funds for scientific research. Though I have a for profit company. How can I get the event nonprofit status to have corporate sponsors? Sponsors will only supports if event is 501 c.

Answer:

Here are some helpful links where you can find info to help you get non profit status.

en.wikipedia.org/wiki/501(c)
https://www.irs.gov/

Many organizations conduct fundraisers in order to raise funds for the application of the 501(c)(3). For instance, you can start an Online Magazine Fundraiser – it’s quite simple, just email family and friends encouraging to purchase or re-new their favorite magazine subscription at up to 85% off newsstand prices. You keep 40% profit.

Having the 501(c)(3) will go along way and help you a great deal in getting sponsors.

If applying for a 501 (c)(3) is not the way you want to go, then you can try approaching smaller local businesses. It’s just that you might have to approach a lot more smaller business in order to come up with the same amount of money than approaching 2 or 3 bigger companies.

Good Luck 🙂

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