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FAQ: set up a NON PROFIT

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  • 16-03-2010 10:49am
    #1
    sebas
    Registered Users Posts: 34 ✭


    Hi All,

    We are planning to set a series of event that aim to connect people in the IT sector. The events need money to rent the room, projectors, web page etc... and we will accept donation from the presenters. To be able to manage donations and expenses we were thinking that the the best way would be to set a non profit organization.

    How difficult is to set it up ? and how difficult is to close it down ?

    any advice will be welcome !!!

    thanks
    Tagged:


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    #2
    dory
    Moderators, Recreation & Hobbies Moderators Posts: 4,483 Mod ✭✭✭✭dory


    Technically it's not too hard, just a few forms to fill out, available on the Revenue website. Need a constitution and there's a template for one on the website too. Problem is is that the average it's taken people I know is 2 years. Look through all the charities on mycharity.ie though and you will see that some very odd ones got through the process. Also some organisations have been set up for once off events like you're trying to do so it must be possible to fast track it. You could just ring Revenue and see.


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    #3
    sebas
    Registered Users Posts: 34 ✭sebas


    waw... 2 years is too long !!!!

    We are looking for a way to create these IT events (basically are companies presenting some high tech products, or Engineers presenting ideas...)... but for that we need founds... people/companies can help with small amounts... but how can this be managed wihtout creating a non profit...
    dory wrote: »
    Technically it's not too hard, just a few forms to fill out, available on the Revenue website. Need a constitution and there's a template for one on the website too. Problem is is that the average it's taken people I know is 2 years. Look through all the charities on mycharity.ie though and you will see that some very odd ones got through the process. Also some organisations have been set up for once off events like you're trying to do so it must be possible to fast track it. You could just ring Revenue and see.


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    #4
    Inari
    Registered Users Posts: 3,152 ✭✭✭Inari


    Sponsorship. If you set up a limited company for the management of the events, and got people to psonsor the cost in exchange for advertisement space (i.e. banners etc) then you're just selling a service, and there's no mismanagement of funds


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    #5
    sebas
    Registered Users Posts: 34 ✭sebas


    Inari wrote: »
    Sponsorship. If you set up a limited company for the management of the events, and got people to psonsor the cost in exchange for advertisement space (i.e. banners etc) then you're just selling a service, and there's no mismanagement of funds
    :rolleyes:
    That sounds very interesting... just wonder how difficult would it be to set a LLC and how difficult would it be to close it down in case of not getting enough sponsors etc... just to clarify... I would not quit my current job doing it...


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    #6
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,986 Mod ✭✭✭✭Capt'n Midnight


    It may take a long time for the revenue to grant you a CHY number.
    New rules last year have made it more difficult.

    Does anyone know if you can claim back stuff if you get charitable status later on ? Remember the charity can claim back top rate of tax on any donotation over €250, not to be sniffed at.


    It might be easier to approach an existing charity and going in under their wing, preferably one with a room and projectors ;)

    Seriously, IT people can scrounge projectors and other kit, you should be aiming to reduce spending where possible. There are lots of empty and half empty offices around. If it's in the evening check with local schools / Uni's / RTC's , for lecture halls, many are quite helpful.


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    #7
    MyPerfectCousin
    Registered Users Posts: 741 ✭✭✭MyPerfectCousin


    What sort of money is involved? I've been involved in two organisations, one a small sports club, one a grass roots lobbying org, and both were able to be operated without formal registration with tax or company registration authorities.

    (Actually, with one, we did set up as a limited company for a while, but it was way more trouble than it was worth for a club of that size.)

    Get forms from a bank to set up an account as an "Unincorporated Association". Appoint a person, or for extra accountability, two people, to be authorised signatures on the account. (Usually the chairman and treasurer or secretary of the club).

    Bob's your uncle.

    My groups have/had turnover of around 10-15,000. I wholeheartedly recommend this if you are dealing with annual funds going in and out of less than 40K or so.

    You should probably ask an accountant just to make sure, but a quick chat with the bank manager might be a good first step too.


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