Startup costs for "Ride for Parkinson's" nonprofit
Donativo protegido
If you’re reading this, you probably know that I have Young Onset Parkinson’s Disease, and I’m planning a fundraising bike tour across Colorado in 2019 with a goal of raising $20,000. You can learn more about my journey and the 2019 tour at www.RideForPD.org
At first I was just going to do this one ride, but during my preparations I realized something:
* This does NOT have to be a one-time thing!
* Why not do a fundraising tour every year?
* Why not involve more people?
* Why not raise money for multiple organizations?
* Why not make a bigger, longer lasting dent in Parkinson’s?
So that’s just what I’m going to do!
The 2019 ride will just be phase-one of this whole endeavor. I’ve decided that EACH YEAR we’ll organize a big bike tour to benefit Parkinson’s and people with Parkinson’s in some way! And I think each year it’ll just get bigger.
Since I’ll be dealing with thousands of $$ in donated money, along with expenses, I wanted to figure out how to do this the right way tax-wise, as well as make it easy for people to donate year after year. All the research I’ve done, as well as advice from my CPA, point me to establishing an official 501c3 Non-Profit Organization. Turns out, that’s not cheap.
So here’s the plan...
Step 1: Establish a “Colorado Nonprofit Corporation” & get an EIN# from the IRS [DONE - November 15] Cost: $50
Step 2: Open a separate bank account for the nonprofit. [DONE - November 16] Cost: $25
Step 3: Register as a 501c3 with the IRS & get set up to take donations [to do] Cost: $300
Step 4: Advertise the ride to secure sponsors & donors [to do & some sponsors already lined up] Budget: $300
Step 5: Raise bunches of $$ to kick Parkinson’s in the teeth!
To do all that I’ll need some startup capital. Not much, but I can’t roll it all on my own. THAT is what this fundraiser is for.
The money you donate will be put toward legal and governmental fees, as well as advertising expenses, web hosting costs, and misc. things that arise when you start a new endeavor. PLUS - due to the way the nonprofit laws work, your donations are tax-deductible starting now.
I hate Parkinson’s Disease. I really do.
But I can’t stand against it on my own. Please help me establish "Ride For Parkinson’s” as a non-profit organization so we can keep fighting against this disease together.
At first I was just going to do this one ride, but during my preparations I realized something:
* This does NOT have to be a one-time thing!
* Why not do a fundraising tour every year?
* Why not involve more people?
* Why not raise money for multiple organizations?
* Why not make a bigger, longer lasting dent in Parkinson’s?
So that’s just what I’m going to do!
The 2019 ride will just be phase-one of this whole endeavor. I’ve decided that EACH YEAR we’ll organize a big bike tour to benefit Parkinson’s and people with Parkinson’s in some way! And I think each year it’ll just get bigger.
Since I’ll be dealing with thousands of $$ in donated money, along with expenses, I wanted to figure out how to do this the right way tax-wise, as well as make it easy for people to donate year after year. All the research I’ve done, as well as advice from my CPA, point me to establishing an official 501c3 Non-Profit Organization. Turns out, that’s not cheap.
So here’s the plan...
Step 1: Establish a “Colorado Nonprofit Corporation” & get an EIN# from the IRS [DONE - November 15] Cost: $50
Step 2: Open a separate bank account for the nonprofit. [DONE - November 16] Cost: $25
Step 3: Register as a 501c3 with the IRS & get set up to take donations [to do] Cost: $300
Step 4: Advertise the ride to secure sponsors & donors [to do & some sponsors already lined up] Budget: $300
Step 5: Raise bunches of $$ to kick Parkinson’s in the teeth!
To do all that I’ll need some startup capital. Not much, but I can’t roll it all on my own. THAT is what this fundraiser is for.
The money you donate will be put toward legal and governmental fees, as well as advertising expenses, web hosting costs, and misc. things that arise when you start a new endeavor. PLUS - due to the way the nonprofit laws work, your donations are tax-deductible starting now.
I hate Parkinson’s Disease. I really do.
But I can’t stand against it on my own. Please help me establish "Ride For Parkinson’s” as a non-profit organization so we can keep fighting against this disease together.
Organizador
Steve Martin
Organizador
Fort Collins, CO
