Thursday, May 14, 2009

We're 99% Incorporated!

In my last post about Earth Day, I lamented about how there are so many organizations working to affect positive change in Memphis, yet they don't appear to be working together. I suggested that someone should help them to do this. Well, Cameron and I have decided that someone should be us! In reality, I may have talked Cameron into a little, but I think he's starting to really own the idea as much as I am.

We've been hashing the idea around, making mind maps and loads of lists. Lists of what's in the idea and what's not. Who the audience is and what benefits they reap. What jobs are needed to make the idea a reality. Who we might approach for funding. The different kinds of organizations we want to help. All kinds of stuff. With each iteration, the idea gets a little bigger and more complex. That's both a good and bad thing.

Today, however, we took a really big step. We filed our Articles of Incorporation with the state of TN. This is also called a Charter. Doesn't seem like such a big deal...you can even file online (though the website isn't very intuitive), but a lot of research went into filing out a one page document! Turns out you can really mess up your application for tax-exempt status (which doesn't come until later) if you don't put in certain provisions. Talk about stressful! It would be great if they had some kind of live help feature, because winging it and consulting books along with the Google God does not feel comfortable on something this important. It only cost us $100, but once the filing is accepted, we're a legit corporation!

Now it really feels like the pressure is on. There is a lot to do before you even start executing on an idea. You have to draft bylaws, decide on/elect a board of directors, hold your first meeting, write your business plan with projected financials and then request 501 (c) (3) status from the IRS. It's only one form but multiple sources say it takes several hours and you should plan to consult an attorney. Why are we going 501 (c) (3) you ask? Because we plan to solicit grants as a primary revenue source and almost all grant applications require that you be a 501 (c) (3) to qualify. While we wait to hear back on our application, which can take a few months, we can try to find another non-profit to be our financial sponsor, which would allow us to apply for and receive grants in the interim.

So what's the idea? Well, I've leave you with a teaser as I need to head to bed. Here's our draft mission statement. Refinement ideas are welcome! I know it lacks details...that'll come in the underlying tactics...but do tell me if it doesn't make sense to you.

Community Collaboration Services improves neighborhoods, communities, and cities by providing a platform of tools and expertise to enable, measure and publish progress against community-defined issues. We foster resident awareness of community challenges, collaboration amongst organizations and individuals addressing those challenges and focused volunteerism to support progress.

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