Hi r/nonprofit, New poster here.
So I’ve been elected to be director of competitions for a a local chapter of a 501(c)3 arts organization. We have organized a new competition this year, a little more ambitious than previous competitions. The nonprofit arts organization is 100% backing the event for this year – meaning no outside donors. However, if we are to run this competition every 2 years, we would need to find outside funding sources to keep it sustainable and growing.
First question is, am I currently able to pursue grants for “nonprofit organizations only” to fund this competition?
And second question, if I want to eventually make this competition into a separate entity, how long does the 501(c)3 process typically take? A year or two?
Compete newbie here (and not particularly business-minded), so any info is appreciated.
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