Many people are unaware about what a nonprofit actually is. A nonprofit is a type of organization that does not earn a profit for individual purposes. An example of nonprofits are charities. There are nonprofits all over the world and many different reasons as to why they are started. The most basic reason why people start a nonprofit is to make a difference or to benefit society. Here are some fun facts about nonprofits that you probably did not know:
· There are over 1.5 million nonprofit organization in the United States
· Each year more people donate to nonprofits. In 2014 the total amount people gave to charities and nonprofit organizations was about $358 billion.
· A nonprofit is a public organization so a single person does not own it.
Here are the 5 simple steps given on how to start a nonprofit organization:
1. Do your homework and research
2. Build a solid foundation of the organization
3. Fill out and file incorporation and state forms
4. File for federal tax exempt status
5. Continue with ongoing compliance
For more details on how to start a nonprofit visit: