How do I start a Political Action Committee?

Factual Questions
1

A large and complex subject, to be sure, but still: How do I start a grass-roots PAC?

The background to my question:

Having gotten well and truly fed up with what I’ve seen happening to the U.S. government over the last few years, I’ve decided to end decades of political hermithood by jumping in with both feet. I want to get very active politically and do everything I possibly can to see a more reasonable Congress and President in place after the 2008 elections. Of course I will vote and contribute what personal funds I can afford to deserving candidates but this doesn’t feel like enough anymore. I want to be actively raising campaign funds for Congressional candidates around the country; candidates who can help end the madness but seem to be in tight races. Getting involved in a PAC is the obvious solution.

I’ve spent much of the last week searching online for a PAC I can get behind but haven’t found one. EMILY’s List and Democracy For America come close but both support certain candidates that support what are, for me, poison pill issues. I just don’t want to be raising money that will go, in part, for instance, to someone who voted for Bush’s torture law.

Reluctantly, I’ve come to the conclusion that I’m going to have to do it myself if I want to see funds going to campaigners whom I wholly support. OK.

So where do I start? I found a couple websites for organizations that are willing to set up everything for me…for a hefty fee. No good. I found the FEC site that lists all the FEC regulations for PAC’s. OK, Byzantine but doable.

That leaves me here:

  1. Pick a catchy name.
  2. Memorize FEC accounting and reporting regulations.
  3. ?
  4. Profit! – paid out to the campaigns of deserving candidates.

Can anyone help me flesh out Item #3?

Do I need to incorporate? How many fellow-travelers will I need in the core organization? And, most importantly, how do I raise money? Set up a good-looking website and ask for money, of course. Promote and speak at ‘coffee evenings’ and ask for money. Yes, I can do that.

What else?

Any general info and suggestions that you can offer would be very gratefully appreciated.