Coffee-Code-Philly-Accelerator / Coffee-Code-Philly-Accelerator/codephiladelphia.com

Secure UEV sponsorship

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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.

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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

Open the contributing guide

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