In the mean time, I have been doing some research on foundations and nonprofit organizations. I have figured out that I want to initially develop a privately funded foundation that will provide scholarships to women who are working to improve and further develop their Sense of Self. I can easily tap into my Sorority to get started and begin to fund women who are working within our organization. Not to mention, college is a time where pressure and stress can often reach a breaking point, and I feel that this foundation could foster motivation and essentially help to fulfill the mission (which I have yet to develop and will discuss with you in the near future).
Once I have successfully developed this foundation, I intend to slowly step into the world of a publicly funded nonprofit organization complete with programming and counseling services for young women and families. That would be in the 10-15 year plan once I have my PhD and some money ;)
So here is my timeline/list, and something to hold me accountable:
- Create a name for my foundation--I have essentially come up with this and will play with it a little more here and there
- Obtain the correct paperwork and materials to submit to the government--hopefully my lawyer friends can hook a sister up with some legal advice *wink wink*
- Complete and file with enough time to create the foundation for the 2011 year so that I can work towards delivering my first scholarship to a woman for the beginning of the 2011 academic year.
I am listing my resources below just in case anyone else in considering starting their own foundation or a public nonprofit and just for a general FYI. I for sure did not realize exactly what the differences were, and that it really comes down to a government distinction and semantics. Enjoy!
Nonprofit is a tax status not a philosophy
Drawbacks in starting a nonprofit organization