Don’t wait on your nonprofit status to start doing good! With personal fundraising on Mightycause, you can start to raise money without nonprofit status in just minutes. Use personal fundraising to launch your nonprofit, further your mission and support your work!
It can take up to 12 months to receive your IRS determination letter. The wait time can vary on external factors . Your wait time depends on the number of nonprofits seeking their 501c3 status during that period, IRS capacity and time of year. And updates on what to expect can be sparse.
On top of playing the waiting game, there are a lot of expenses you’ll incur while waiting on your nonprofit status. Application fees, legal fees and the cost of operating your program without being able to fundraise can cost you thousands of dollars.
Your organization can seek the funding it needs through personal fundraising. You can drum up support for your cause while crowdsourcing the money you need to get your 501c3 status.
Starting Your Programs
Mightycause creates its organization pages based on the IRS’s database of 501©3 public charities to ensure every organization on our platform is a certified charity. If you don’t have nonprofit status yet, this verification process can leave you in limbo. Most organizations still need funds to cover operational expenses while awaiting their 501c3 status.
For instance, The Reagant Project started a personal fundraiser on Mightycause while awaiting their 501c3 status. They were able to get supplies needed to ship lab materials and raise money without nonprofit status.
Aunt Mary’s Bookshelf let individuals know on their Mightycause fundraiser that while they were awaiting 501©3 status they were still seeking funding for books for libraries, individuals and mentor programs. To date, the organization has raised more than $9,000 on its personal fundraiser on Razoo.
Personal fundraisers are ideal during this time period because contributions are not tax-exempt. Funders cannot get tax-deductions for their contributions to the organization during this time, in compliance with IRS regulations. It also helps familiarize potential donors with your organization and your work. That way, once your public charity status is granted, you can hit the ground fundraising.
Start Raising Money On Mightycause
Setting up a personal fundraiser is easy on Mightycause . Just go to razoo.com and click “Start a Fundraiser.” Instead of selecting “Certified Charity,” select “Personal Cause.” Then, just fill out your goals and provide detailed information about your nonprofit’s mission.
You may also want to change your name to your organization’s on your User Account. Set your profile picture as your logo, too, to help familiarize donors with your cause. You’ll need to set up a WePay account to start a personal fundraiser, so make sure to have your banking information handy!
Once you click “Publish” you can start spreading the word about your cause! Donors who contribute to your fundraiser will receive an automatic payment confirmation when they give to your organization. However, it won’t include tax language, because your cause is not yet tax exempt.
Started your cause as a personal fundraiser but now you’ve received your Determination Letter from the IRS? Reach out to our helpful customer support team at firstname.lastname@example.org and we’ll be happy to get you set up for nonprofit fundraising!
For more information on starting a nonprofit, check out Nonprofit Hub’s helpful list of tips to get started and their guide on costs associated with nonprofits.
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