I'm back. Let's get this party started!

Wow - summer really got away from me!  I can't believe it's been three months since my last post, I have a lot to catch you up on!  So this post is to answer all the questions I've been getting lately:

What have you been doing all summer?

I had a part-time contract with the university so I could wrap up some research projects and teaching obligations.  Of course, surprising to no one but me, "wrapping up" was more work than I anticipated and so had little time to focus on the non-profit.  My last official day at the university was August 9.  I am now officially without a paying job! 

Did you ever decide on a name for your nonprofit?

In my last post I asked for advice on a name and I got some really good and creative ideas.  After pitching the ideas to the folks who will actually be served by the organization (i.e. older folks living in low-income housing), the original front runner, Richmond LiveWell, was knocked out because I got too many comments that they thought it sounded like somewhere they would go for medical care.  But we did come up with a name (drum roll please 🥁🥁🥁):  Richmond Aging and Engaging.  What do you think?  (If you like it, let me know, if you don't - keep it to yourself 😛).  Here is a draft of the logo:

Did you find an attorney to help with the paperwork?

Yes!  I officially have an attorney on retainer (#adulting)!  I decided to go with a small, local firm that specializes in small business: Way Law PLLC.  He wasn't the cheapest (though he also was far from the most expensive), but I really vibed with him and the way he approaches business start-ups. He sealed the deal when he told me his favorite part is writing out all the narrative that is required on the non-profit applications.  

So what is the status of the organization?

The first step is to establish the organization as a legal business entity. In the case of a non-profit organization, it will be formed as a non-stock corporation. Corporations (whether stock based nor non-stock) are required by law to be governed by a board of directors (unlike partnerships, sole proprietors, and *I think*, LLCs).  What this means is that I can't just decide to start a non-profit by myself - I have to get others excited about the idea of the organization and willing to take on the role of a board member (which is a voluntary service - by law, nonprofit boards cannot be compensated). The legal minimum size for the board is three members, but most fully functioning boards have 10-12 members (and even more for large organization).  My initial board (including myself) will be 4-6 members (friends and colleagues).  Once we get going we will need to recruit additional members to fill some knowledge gaps (Anyone know any CPAs in the Richmond area looking for board service? Bonus points if it's a retired parent/older adult).  In a future post I'll explain what non-profit boards do, and the difference between what boards do and what an executive director does.

But back to our status. Our lawyer, Chris, is drawing up the articles of incorporation which will be filed with the Virginia State Corporation Commission (along with $75 fee).  This will hopefully be completed in the next couple weeks.  Once it is approved we can get an EIN (employer identification number) which is required to establish a bank account for the organization, and then we will be a real live business! (but that is no where near the end of the process to gaining 501c3 status).

If your lawyer is doing all the paperwork, what are you doing with your time?

Believe it or not, my days are packed! I've never started a business before - I have so much to learn!  I joined the Non-Profit Leadership Lab which provides all kinds of training and resources for small/medium sized organizations. I've completed masterclasses on goals/strategies/tactics, strategic planning, role of ED vs board chair; I've attended seminars on, among other topics, Robert's Rules of Order, and developing your elevator pitch....and I more I learn, the more I realize I have more to learn. This fall I'll hopefully be joining a Board Boot Camp which is a two month intensive on creating/recruiting/managing effective nonprofit boards.  And I haven't even started on fundraising training yet.....

And then there are the logistics...I'm going to need organization email and webpage so I've had to learn about and research web hosting and email hosting (I had always wondered what GoDaddy was). The organization will need liability insurance so I've had to research all the various types of insurance out there (general liability, professional liability, directors & officers insurance....).  And don't get me started on accounting software.... But I can't go forward with anything, or get any direct price quotes until we are a legal entity with an EIN. 😵

And lastly, and maybe most importantly, I've been reaching out to local nonprofits to set up meetings with their executive directors/organizational leadership.  The purpose of this is two-fold (or maybe three-fold).  First, I'm moving into a new sector where I have few personal connections, so I need to network and get my name out there. The non-profit world is a small one, so it's important to gain allies early on. Relatedly, these folks have experience with all the logistical things I'm just now learning about, so the more tips/advice I can get from people who know more than me, the better (you know I'm all about not reinventing the wheel!)  And finally, I need to understand what programming is already being provided for older adults - I don't want to duplicate services, I want to fill a gap (this is the non-profit sector - we work together to solve a problem, not compete to take over!).

So yeah, you're all caught up, that's what I've been up to!  And stay tuned because now that the ball is rolling, it's going to continue to pick up speed so I hope to have more frequent updates for you!

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