WHAT YOU NEED TO START A NONPROFIT

I mentioned in an earlier post http://bit.ly/NyUKLc that the first step in starting a nonprofit is developing a plan.  It is interesting that some people believe they don’t have to create a realistic business plan for a nonprofit.  I’m not sure why this is the case, when a business is a business, whether it is for-profit or nonprofit – the rules of business startup apply to both.

Your Business Idea Must Serve a Suitable Purpose

Like other business types, you have to decide what the true purpose of your business will be.  Have you considered what type of services you will provide?  Do those services complement each other?  Does your service meet the needs of your community?  Yes, your idea for a business may be great, but you have to meet certain criteria to qualify as a nonprofit or charitable organization.

So, step #2 when starting a nonprofit organization is to determine your purpose.

WHAT YOU NEED TO START A NONPROFIT

It seems as if 1 out of 5 of my recent conversations has been with individuals who are considering starting a nonprofit organization. In the Tallahassee community there are a large number of people who are truly passionate about helping others.  This is definitely commendable!  These conversations have piqued my curiosity as I wonder how many people have done the research required to start and operate a successful nonprofit organization.  A nonprofit is like any other type of business in that certain steps must be taken before the business can be successful. 

You Must Have a Plan

I believe the first step in the process (developing the business plan) is the most time consuming, but it is probably the most important step.  Unfortunately, this is the step where most people take a shortcut.  I believe it was Harvey MacKay who said, “If you fail to plan, you plan to fail”.

You may ask, what’s so important about writing a business plan when I have all of my ideas in my head?  My answer: We usually have so many things on our minds, that it is difficult to keep track of everything. Plus, when you start writing your ideas on paper, you can begin to put the missing pieces together.  Think of your plan as a road map to a successful business.  If you do the research and you plan properly, your chance of succeeding will be greater.

So, step #1 when starting a nonprofit organization is to create a thorough business plan.

How To Get a Training Grant

In earlier posts, I advised that there are training grants to help you reduce the cost of the training component for your EMR conversion.  I shared the criteria to determine if you qualify to receive an Incumbent Worker (IWT)training grant.  I also provided information on costs that are eligible under the grant.

Now that you know the requirements of the IWT training grant, you're probably wondering what's the next step. So, let's talk about what you need to do to get started.

There are 2 major steps to consider:

1. Application Phase - This is the phase where you apply for the training grant. The state uses your application to determine if you qualify for an IWT grant award. The process of applying for the grant takes some time, but it is well worth the effort.

On your application, you will provide information related to your anticipated training, outcomes and the associated costs (both direct and indirect). You also will be required to provide documents to support that your company is financially stable and there are no outstanding taxes due to the state.

2. Payment Request Phase - This is the phase where you provide documents to support the eligible training and training costs. Since the grant is reimbursable, you will have to prove that the costs were paid prior to your payment request.

Likewise, you are required to provide evidence that your employees participated in the approved training(s). This process requires you to maintain good records of trainings and their associated costs and payments.

Do you want to know if you qualify for an IWT grant?  Give me a call at (850) 727-0293. I will provide you with a detailed checklist, which allows you to consider the criteria for approval. Then, we'll go to the next step.

How To Reduce Your EMR Training Costs by Up To 75%

In my last post, I told you about an opportunity to reduce the training component of your EMR conversion by up to 75%. The Incumbent Worker Training (IWT) grant is a resource that can be used by qualifying Florida businesses to help defray some of the costs associated with employee training.

This is exciting news! If you have already researched the cost to convert to the electronic system, you understand that this conversion process is not inexpensive. You cannot install a new software system without training your team on the best way to use it. The IWT grant can make big a difference in the type of training your staff receives.
Who is Eligible to Apply?

Now I understand the BIG question in your mind is "Do I qualify?" If you answer "Yes" to the following questions, you are eligible to apply for an IWT grant:

• Are you a for-profit business?
• Have you operated in Florida for at least one year?
• Do you have at least one FT employee (other than owners)?
• Will the training be completed within 12 months?
• Are you current on Florida taxes?

What is Eligible?
The IWT grant will allow you to reduce your direct training costs by up to 75% (or $50,000). So that you'll be clear on what is eligible, I have included the following list:

• Training fee from an outside vendor
• Cost of employee-trainer
• Cost of training materials

I'd like to warn you that these grant funds will not be available for long. This fiscal year, the State received $5 million dollars to fund this program. Of course, with the recent budget cuts, the funding for the upcoming fiscal year has been reduced to $2 million. What that means to you is: the sooner you apply, the better.

Stay tuned for information on what steps you need to take next....

Is Your Team Ready for the EMR Transition?

As medical practitioners are preparing to transition from paper patient records to an electronic format, many are considering the cost of this conversion. Many organizations believe that finding the right system is the key to their success. And that is partially true. I agree that knowing which software to use is an integral part of this process. However, the other key component of the EMR mandate is ensuring that your team is ready for the transition. The people who will be responsible for inputting and utilizing the data from the system must be equipped with the skills needed to effectively function using the new system. Obviously, the appropriate training at different levels will be required to ensure a successful transition.

 

Based on my research, the costs associated with the EMR conversion vary by the size of the practice and the type of system chosen. In some cases, the cost of training, technical support, licensing, etc., are almost as high as the price of the software. As a result, this conversion may incorporate a significant outlay of capital. It is no surprise that physicians and medical facilities are searching for ways to make this conversion less costly.

How to Reduce Your Cost

If you are ready to begin your EMR conversion, but you are still struggling with the cost, consider Florida’s workforce grants. These grants may be used to reduce your cost for the EMR adoption and implementation. The Incumbent Worker Training (IWT) grant assists Florida businesses with improving the job-related skills of their employees. Why does this matter to you? If you plan to implement the EMR format (whether you are required under the mandate or not), you can essentially reduce your training costs by 50 - 75% (up to a maximum of $50,000).

Incumbent Worker Training (IWT) Grant at Work

I am working with a client that is currently in the process of their EMR conversion. They learned that the training cost was a significant part of their software purchase. Ultimately, they were looking at different avenues for reducing these costs. Because under the IWT grant, this type of training was considered to be a "skills upgrade" the client was awarded a grant in the amount of $43,750.

Now you may be thinking, "I hope my training costs are not that significant!" And, depending on the size of your team, it may not be. However, if you haven't begun researching your EMR software, now is probably a good time to start. A part of your research should include finding out what portion of the software cost will be allocated to training. It doesn't matter if your training cost is $50,000 or $8,000. Recouping a portion of that cost will be beneficial to you.

In my next post, I will provide more details about the IWT program requirements. Please feel free to ask questions.