We've obtained the first set of documents that make this whole endeavor a real business! It's like a child getting it's Social Security number for the first time, except in the case of a business it's called an EIN (Employer Identification Number). Although our nonprofit application is still in process we'll be able to begin sales as soon as we have a store or two built somewhere online. We will function as a nonprofit even while waiting for it be officiated because our status for the entire year will be based on whatever our year-end status will be and in our case we will end the year as on official 501(c)(3) nonprofit.
Because of the differing rates we can get things done based on both the design and construction complexity it will most likely be that we'll have an operational Facebook and an eBay store before our website and webstore are completed. Hopefully we'll have the at least the website aspects built by the time the other stores are up and running so you'll have an easy place to go to learn more about us, our overall giving mission and the charities we've selected to be recipients of our proceeds for the year. Because it's our first year out and we'll be starting sales mid-year we're considering selecting only one charity for 2013. As a new business we do need to use some of what we make this year to re-invest towards our expansion plans for next year, also as a new business it'll take some time for us to get our name out there and build a customer. We feel that giving one established organization the sum of what we have this year will be better than to split that up into potentially small pieces between multiple nonprofits.
To obtain our own nonprofit status we're working with a nonprofit called the Foundation Group . For a nominal fee they work with those wanting to establish a nonprofit. They put together the by-laws, assorted other documentation and the final applications for status as a 501(c)(3) corporation. They've been a great find; they average a four month process compared with an average six months before all documents are approved and they maintain a 100% application approval rating after eighteen years in business. If everything continues as it's been going we'll have the first of our online stores, our Facebook store, up by early April 2013!!
As always, this store is your store too and we look forward to your ideas and suggestions!