Coffee-Code-Philly-Accelerator / Coffee-Code-Philly-Accelerator/codephiladelphia.com
Secure UEV sponsorship
- Dominant language
- HTML
- Stars
- 0
- Forks
- 0
- PR merge metrics
- No merged PRs in 30d
Description
1. File Form 1023-EZ (or 1023) - if you haven't already
This is the single most urgent item. Your EIN alone does not make
you tax-exempt. You need the IRS Determination Letter to accept
tax-deductible donations, apply for most grants, and be taken
seriously by institutional partners. Form 1023-EZ is simpler and
faster if you qualify (gross receipts under $50K and assets under
$250K).
2. Secure a fiscal sponsor now
While waiting for the IRS determination (which can take weeks to
months), a fiscal sponsor lets you accept grants and donations
immediately. Social Impact Commons in Philadelphia offers this
service (5-10% of gross revenue).
3. Register with Pennsylvania
- PA Bureau of Charitable Organizations (Form BCO-10 / PA-CSR-101)
- required before you can solicit donations in the state
- PA Department of Revenue for state tax exemption
4. Recruit an independent board (3-5 people)
At least one member should have legal or nonprofit compliance
experience. Avoid stacking the board with VC contacts early - that
creates conflict-of-interest problems before you've even
established the policies to manage them.
5. Adopt governance policies via board vote
- Conflict of Interest policy (with annual disclosures)
- Whistleblower policy
- Document Retention policy
- Gift Acceptance & Sponsorship policy
These are not optional. Grant applications, the IRS, and any
serious VC partner will expect them.
6. Open a nonprofit bank account
Requires your EIN, Articles of Incorporation, bylaws, and a board
resolution. PNC and TD Bank both have nonprofit banking services in
Philly.
---
Items 1-3 can start this week. Items 4-6 should follow within 4-8
weeks. Nothing else on the roadmap - VC partnerships, grant
applications, accelerator programs - moves forward until these six
are done.
Contributor guide
Assessment
This issue has not been assessed yet.