It is exciting when you have decided now is the right time to take the next steps and establish a charity to continue the good works you have started!
Charitable purpose
One of the most important aspects on your journey is to resolve the following:
Identify what you are trying to achieve?
Who you are seeking to help?
What programs or services you will provide?
What will be your charity's main activities?
Charity resources
Running a charity can be one of the most fulfilling and rewarding activities you can undertake.
However, there are some practical considerations you need to address. These include:
What funds do you have for your charity?
Where will you get more funds from?
Where will you operate from?
Do you need staff or more volunteers?
Who is going to run the charity?
Technicalities and legalities
This part of setting up a charity is the boring bit. It is likely the bit you are least interested in, however you can't afford to get this wrong!
The following are just a few of the items you need to consider:
- charity board members - who are they, how many?
- charity constitution - who is going to draft this?
- charity structure
- ABN application, ACNC registration, ATO endorsements
- Are you going to be receiving tax deductible gifts?
- Do you have the correct DGR, not for profit and wind up clauses?