As an expert in the nonprofit sector, I have seen firsthand the positive impact that public charities can have on communities. If you have a passion for helping others and want to make a difference in Summit County, Ohio, starting a public charity may be the perfect opportunity for you. In this comprehensive guide, I will provide you with all the necessary resources and information to get your organization up and running.
What is a Public Charity?
Before we dive into the specifics of starting a public charity in Summit County, it's important to understand what exactly a public charity is. A public charity is a type of nonprofit organization that receives funding from the general public and operates for charitable purposes.These organizations are exempt from federal income tax and are eligible to receive tax-deductible donations. Public charities differ from private foundations, which typically receive funding from a single source, such as an individual, family, or corporation. Public charities rely on donations from a wide range of sources, including individuals, corporations, and government grants.
The Benefits of Starting a Public Charity in Summit County
Summit County, Ohio is home to many thriving communities and has a strong sense of philanthropy. Starting a public charity in this county can have numerous benefits, both for the community and for the individuals involved. Firstly, starting a public charity allows you to make a direct impact on the community. You can choose to focus on a specific cause or issue that you are passionate about and work towards making a positive change.This can be incredibly fulfilling and rewarding. Additionally, starting a public charity can also provide tax benefits. As mentioned earlier, public charities are exempt from federal income tax and can receive tax-deductible donations. This can help attract more donors and increase the overall impact of your organization.
Steps to Starting a Public Charity in Summit County
Now that you have a better understanding of what a public charity is and the benefits of starting one in Summit County, let's dive into the steps you need to take to get your organization up and running.1.Develop a Mission and Vision
The first step in starting a public charity is to develop a clear mission and vision for your organization. This will serve as the foundation for all your future activities and will help guide your decision-making process. Your mission should clearly state the purpose of your organization and the impact you hope to make.Your vision should outline your long-term goals and aspirations for the future. It's important to make sure that your mission and vision align with the needs of the community in Summit County.
2.Choose a Legal Structure
Next, you will need to choose a legal structure for your public charity. The most common legal structures for nonprofits are 501(c)(3) and 501(c)(4). A 501(c)(3) organization is tax-exempt and can receive tax-deductible donations, while a 501(c)(4) organization is not tax-exempt but can engage in lobbying and political activities. It's important to consult with an attorney or accountant to determine which legal structure is best for your organization based on your goals and activities.3.Register with the State of Ohio
In order to operate as a nonprofit in Ohio, you will need to register with the Ohio Secretary of State.This involves filing articles of incorporation, creating bylaws, and obtaining an Employer Identification Number (EIN) from the IRS. You will also need to register with the Ohio Attorney General's Office to obtain a charitable solicitation license, which allows you to solicit donations from the public.
4.Create a Board of Directors
A board of directors is responsible for overseeing the operations and activities of a nonprofit organization. It's important to choose individuals who are passionate about your cause and have the necessary skills and expertise to help your organization succeed. Make sure to have a diverse board that represents different perspectives and backgrounds. This will help bring new ideas and perspectives to the table.5.Develop a Fundraising Plan
Fundraising is a crucial aspect of running a public charity. You will need to develop a fundraising plan that outlines how you will raise funds for your organization.This can include events, grant writing, and online fundraising campaigns. It's important to have a diverse range of fundraising strategies in order to reach a wider audience and attract more donors.
Resources Available for Starting a Public Charity in Summit County
Now that you have a better understanding of the steps involved in starting a public charity in Summit County, let's take a look at some resources that can help you along the way.1.Summit County Nonprofit Network
The Summit County Nonprofit Network is a great resource for individuals looking to start a public charity in Summit County. They offer workshops, training, and networking opportunities for nonprofit organizations in the county.2.Akron Community Foundation
The Akron Community Foundation provides grants and resources to nonprofit organizations in Summit County. They also offer workshops and training sessions for individuals looking to start a public charity.3.Ohio Attorney General's Office
The Ohio Attorney General's Office has a Charitable Law Section that provides information and resources for nonprofit organizations in the state. They also offer training and workshops on legal compliance for nonprofits.4.SCORE Akron
SCORE Akron is a nonprofit organization that provides free business mentoring and resources to entrepreneurs and small business owners.They can provide valuable guidance and advice for individuals looking to start a public charity in Summit County.
