How to start a non-profit with no money.

how to set up a foundation without money

AI Overview

You can start a foundation without money by using a fiscal sponsor, which is an existing nonprofit that lends its tax-exempt status. You can also begin with a small group of passionate founders to build a board of directors who can contribute time and skills. To get started, leverage in-kind donations and local community grants, secure an online presence to attract volunteers and donors, and create a strong, clear mission to inspire support.

Initial legal and structural steps

Find a fiscal sponsor: Operate under the tax-exempt status of an existing 501(c)(3) organization to avoid the administrative costs of incorporation and applying for your own tax-exempt status.

Form a board of directors: Recruit a small team of committed individuals who can provide skills in areas like legal, finance, and fundraising.

Define your mission: Clearly articulate the problem you aim to solve and the services you will provide to inspire potential supporters.

Gaining initial resources and support

Seek in-kind donations: Ask local businesses for donations of office supplies, equipment, or services instead of money.

Apply for grants: Search for community, state, and federal grants on websites like Grants.gov and from local foundations, suggests Nonprofit Hub.

Build a volunteer base: Use social media, community bulletin boards, and local events to recruit volunteers whose time is invaluable.

Network and partner: Collaborate with other nonprofits and community groups to share resources, reduce costs, and amplify your reach.

Building your online presence and initial fundraising

Establish an online presence: Create a website and social media channels to share your story, mission, and progress.

Engage your network: Reach out to personal and professional contacts to gain initial support. Even those who cannot donate money may be willing to share your message.

Host an online fundraiser: Use online platforms to host an event like a silent auction to raise money and attract donors.

Create a compelling story: Clearly communicate the impact of your work to inspire hope and energize people to support your cause. This video explains how to start a nonprofit with no money: Related video thumbnail 55s SPACEs