::
Sustaining and Growing : Sustaining
6. DON'T BE AFRAID TO ASK FOR MONEY
Why do people give money to an organization? What are ways I can use to bring money into this organization?
Some of the reasons people give to organizations consist of the following:
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feels good • 'gives back' to society • admires the person or the organization asking for the money • believes in the cause • gets something in return for the money • receives a tax-deduction for a 501(c)(3) organization • is generous • knows the money will be well used |
Some different ways to fundraising consist of the following:
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direct mail • members of the Board of Directors • major donor programs • planned giving programs • grants from foundations • corporate sponsorships • government grants • special bicycling events • employer matching gift programs • join a friend campaign • stocks and mutual funds • online |
7. ESTABLISH FINANCIAL MANAGEMENT
How do I instill
sound financial management in my organization?
The following are ways to establish sound financial management
within your organization:
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•
Keep good records. Establish a record keeping system for
the organization's official records including corporate
documents, board meeting minutes, financial reports, other
official records that must be preserved for the life of
the organization.
•
Perform an audit. Have your CPA test the accuracy and completeness
of information presented in an organization's financial
statements. Some nonprofits are legally required to obtain
audits. |
8. OBTAIN A FEDERAL ID NUMBER AND GET YOUR NON
PROFIT STATUS
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File for an IRS determination of federal tax exempt status,
501(c)(3) or 501(c)(4). To apply for recognition of tax exempt
status, obtain form 1023 (application) and publication 557
(detailed instructions) from the local Internal Revenue Services
office. • File for state and local tax exemptions in accordance with state, county, and municipal law. Apply for exemption from income, sales, and property taxes. • Obtain a Federal Employer Identification Number (EIN) by filing an "Application for Federal Employer Identification Number," (form SS-4) with the Federal Internal Revenue Service. • File articles of incorporation. Each state has its own regulation and procedures for doing so; your state's Secretary of State Office has all of the necessary documents for this procedure. |
Other legal matter you may want to consider doing at this time:
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Register with the state unemployment insurance bureau • Apply for a nonprofit mailing permit from the US Postal Service |
9. PURCHASE INSURANCE AND MANAGE RISK
What kind
of insurance should I buy? What should I do if an accident occurs
during an event?
Typical bicycling advocacy organization policy includes the following
coverages:
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General Liability • Participant Accident • Non-Owned/Hired Auto Liability • Workers' Compensation/Employers' Liability • Property/Electronic Data Processing/Crime • Directors and Officers Coverage |
If/when an
accident occurs at one of your bicycling events, you should take
the following steps:
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Seek appropriate medical attention immediately • Designate a spokesperson and direct all inquiries to that person • Record names and telephone numbers of witnesses • Document what occurred including the name, injury, how it happened and the actions taken in response • Report the incident to your insurer |
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Forming - The beginning—these are the first five steps you'll need to get off to a great start. | |
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Sustaining - Here are four more steps to help you keep the momentum going. | |
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Growing - Expanding your advocacy group's reach can only be aided by these last two steps. |