One question to ponder is whether being a 501c3 is beneficial. Will enough businesses or individuals actually donate money, or more money, because of the tax write-off? Enough to make it worthwhile?
Our club started down that road in the early days, but the club president gave up after a good bit of work. Instead, we're a not-for-profit corporation. Businesses can still donate and write off their donation if they can frame it as advertising. We don't get a lot; it's unclear whether, if we had 501c3 status, we would actually get much more.
Another option I've read about, in some places, is that if you stumble across someone who wants to give $10,000 but wants a tax deduction, that it can be funneled through the parks department. I'm less clear whether that is correct.