Setting Up A Not For Profit In Australia: ACNC - PART 2/4

Setting Up A Not For Profit In Australia: ACNC - PART 2/4 // Thinking of starting a not for profit in Australia? Well, I have a 4-part series rolling out on the subject and today we look at the ACNC and their role in setting up a not for profit in Australia - part 2/4.
This video looks into the process of registering your charity with the (ACNC) Australian Charities and Not for profit Commission, creating a constitution for your business and your reporting requirements to the ACNC.
Understanding how to start a not-for-profit in Australia requires you to understand the landscape in which you’re working. Setting up a not for profit has a number of different elements that need to be considered before starting so that you can build your not for profit on the right foot. Understanding where the ACNC fit in is one of those important elements.
When thinking about setting up a not-for-profit in Australia it's a good idea to look at the ACNC to get an understanding of who else is vying for the same space you are. In the following 2 parts of our series we'll be diving into governance and your board, and also the ATO and tax concessions available to not-for-profit organisations.
Connect with me on LinkedIn / justin-hogg-right-source or visit www.rightsourc...
#notforprofitorganisation #acnc #notforprofit #charity

[@emonitani]

Excellent presentation

[@raweatables6903]

Firstly, thankyou Justin for making this series of videos. Such a clear and informative kind lesson :) Can a charity be set up with out directors ID's? And what type of trust is used for NFP charities?

[@RightSource]

Technically an association can be setup without Director IDs, but my recommendation would be to have them in any case if you are taking on this type of role. Trusts are becoming less common for operating charities and that would be best answered by someone specialising in Trusts.

[@angelinastark7815]

How much to pay for the not fropet

[@philippepinero9058]

So here is my challenge I work for a Christian charitable org that works with literacy in bible translation. They give us a stipend every month but now as we have done a great work they want to help us full time. They also sent funds for wheel chair ,computers , solar panel etc of places we open up on the pacific islands. Can I set up a NFP and make that work in taking a compensation for my services but at the same time using the finance given for its specific task. At present we are using a friends NFP organization to help other and we give then an Itemized brake down. I hope this is not confusing. Basically I have had to stop my paid work in order to concentrate on this work in the South pacific island like Vanuatu , Fiji , Solomon , new Caledonia , PNG. I am now spending 5 days a week on this work. So do I open a business ABN or a NFP and run the finances through that company. A bit confused. Thanks you videos are incredible

[@RightSource]

This sounds like a deeper question around the strategy and your overall planning. Happy to organise a discussion. Email me at [e-mail]

[@kyliebernstein6261]

I’m in vic looking at setting up Ltd have board etc ready but need help with setting it all up fully.

[@RightSource]

Happy to arrange a time to talk through your options. If interested send me an email at [e-mail]

[@overcomerrama1741]

Is there a body or organisation in NSW that provides legal advice to charities specifically on the best legal structure to begin with; and the set up of their Not For Profit Org. constitution?

[@RightSource]

There are some resources on www.nfplaw.org.au. Also, the Qld Law Society provides this kind of information to NFPs in Qld, so perhaps you could contact the NSW Law Society and they could point you in the right direction.

[@arian693]

Thanks for your video🙏🏼. How do we know which ABN structure is suitable for us?

[@RightSource]

Hi Arian, send me an email and we can have a discussion - [e-mail]

[@biblebeliever.7]

Hi Justin that's the only confusing part is the ABN status. Now that I know that a Sole Trader can not apply for a NFP Do i put it under a company?@@RightSource

[@RightSource]

There are two main ways to set these up, either a company or an association. Which is better depends on your own situation, but core to each model is the requirement of multiple directors.@@biblebeliever.7

[@shaunwilson5881]

Great video! If not allowed to start as an individual, what is the minimum amount of people required for Trust or LTD (QLD)?

[@RightSource]

There are a number of options, but a minimum of 3 people would be able to get things started.

[@neenagordon6703]

Hi Justin I am trying to work out if what I am setting up is a charity or a NFP business.

[@RightSource]

If there is a charitable purpose you will be providing some benefit for reduced or no cost to those receiving it.

[@philippepinero9058]

simple questions HOW MUCH does it cost to register a NFP

[@RightSource]

You could probably get one set-up for under $1,000 if you do the work yourself.

[@kyliebernstein6261]

@@RightSource how do we do it ourselves but still have it done the correct way

[@RightSource]

@@kyliebernstein6261 the best place to start is the ACNC website.

[@angelinastark7815]

How long it will be approved?

[@RightSource]

www.acnc.gov.au