What you need to know? I've seen nonprofits get disappointed time and time again. Thinking that because you obtained your 501c3 status. Money is going to miraclessly start coming in.
If you don't have a plan to build a legitimate business. You're going to find that qualifying for 501c3 status lengthy. You have to consistently present credibility by filing and keeping up with yearly records. Records obtaining expenses and revenue. 'The misconception about receiving grant money has been incorrectly perceived by many business owners starting out. When applying for a grant please take in consideration, that your business or non-profit may not always qualify or be selected. In a competitive industry, what's going to make you and your non-profit stand out. Personally I rather wait until I'm asked to get my 501c3. Just take the time to continue to build and generate my own income for my non-profit.