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					Non-Profit Presentation

      Iowa S.A.L.Y.D
 Michael Hoenig and Nichole
The Process
The First Step: Getting Started

Board started discussion about process in
January 2006 and voted to move forward
the following month

• Was originally part of a larger
  sustainability discussion

Interested individuals from the SALYD Board
met with SUMO Group representative to
begin paperwork
          The First Steps (Cont.):
Three documents crucial to the non-profit
• Bylaws
      Rules that the organization will follow in its everyday functioning
        • Rules cover everything from officer elections to membership
• Articles of Incorporation
      Similar to bylaws in that both outline rules of organization’s
      functioning, but do not go in to detail as the bylaws do
        • Following the drafting of the bylaws, the Articles of
          Incorporation should follow and then be filed with the proper
          state agency (Secretary of State’s Office)
• I.R.S. Application
      Application varies on type of organization (for profit/non-profit,
      church, etc.)
        • Completed application is submitted along with organization’s
          bylaws, Articles of Incorporation, and Certification of
The Pros and
The Pros of Becoming Non-Profit
More funding options
    Private grants
Availability to control funding internally
    Organization holds the purse string and can allocate
    money any way it sees fit as long as it follows the
Not held responsible to the rules of any
other organization or funder
The Cons of Becoming Non-Profit
The “process”
   The paperwork can be difficult and
   time consuming
   The cost is expensive!
Having to locate own funding
Where are
 we now?
We have submitted all the right
forms to the IRS. We're waiting
for them to respond.

• This can take a long time,
  because they review the
  application one question at a
  time and don't move to the next
  question until they're happy with
  what you've written.

• We hope to have our non-profit
  status by the end of the year!