Hoople - 1:17 am on Jan 21, 2013 (gmt 0)
Welcome to WebmasterWorld ark215j!
Been there and still doing that since mid 2004 or so. I have 3 non-profits and a forth coming onboard this week.
If you look around there are a few very low cost (less than $5 US a month) cPanel hosts out there. It takes time to sift thru all the false webhosting review sites put up by some of them to find the gems. I would get a second hosting company so if your first choice goes down for a long time you can do a quick switch.
The only 'extra' I have ever considered mandatory is a domain as non-profit.example.com looks so unprofessional.
I'm not a fan of too many plugins as they slow down a site, esp if they all load multiple versions of the same js. Simple can still be good :-)
A plus to your situation is you can turn on a dime and test new things much easier than a team site.