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Educational Development Corporation School and Library Manual Revised January 2011 1 2 TABLE OF CONTENTS CIA Materials Code of Ethics School & Library Profile Self Test Company and Educational Consultant

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1. Gather all necessary information and documents. This includes the name and contact information of the corporation, the purpose and goals of the corporation, and any relevant financial statements or business plans.
2. Determine the appropriate legal structure for the corporation. This may depend on factors such as the number of shareholders or the desired tax treatment. Consult with a lawyer or accountant to make an informed decision.
3. Complete the necessary paperwork. This typically includes filing articles of incorporation, creating corporate bylaws, and obtaining any required licenses or permits. It is important to carefully follow all instructions and provide accurate information.
4. Establish a board of directors and hold an organizational meeting. The board of directors will be responsible for making important decisions and overseeing the operations of the corporation. During the organizational meeting, key positions can be assigned and any initial actions can be taken.
5. Obtain any necessary approvals or consents. Depending on the jurisdiction and the specific activities of the corporation, additional approvals may be required. This could include obtaining tax-exempt status or receiving approval from regulatory agencies.
6. Set up financial and administrative systems. This includes creating a bank account for the corporation, setting up bookkeeping processes, and establishing any necessary reporting procedures.
7. Develop a strategic plan and fundraising strategy. Educational development corporations often rely on fundraising efforts to support their activities. Create a plan for identifying potential donors and securing funding for the corporation's initiatives.

Who needs educational development corporation?

1. Non-profit organizations focused on educational initiatives may benefit from establishing an educational development corporation. This allows for a separate legal entity that can receive donations and apply for grants to support their educational programs.
2. Educational institutions such as schools, colleges, or universities can also benefit from forming an educational development corporation. This enables them to seek additional funding and support for specific projects or initiatives.
3. Individuals or groups passionate about improving education may choose to establish an educational development corporation. This provides a formal structure for fundraising and implementing educational programs or initiatives that align with their goals.

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