I think the first step is to take an inventory of your personnel. Do you have people on board who can direct, do tech work, build sets and do marketing. Do you have people adept at grant writing? Money can always be a concern, especially if you have to pay for your venue. If you have the personnel needed to produce a play without burn out, then contact the state agency, usually the state Attorney General's office about paperwork to file as a non-profit organization. You may also wish to contact your local chapter of the Volunteer Lawyers for the Arts. They will help you go through all the neccesary paperwork for filing as a non-profit for the state, including writing by-laws, as well as the process for becoming a 501(c)(3) non-profit, a real must for a lot of grant monies. Plan a first production, starting with a budget. Make sure you can afford to produce a play. Don't forget about insurance. Try to stick to a simple set. If you have a reading committee, add a couple of teenagers to it, especially boys. There's nothing worse than trying to cast a play that seems too "lame" to the older kids, who you would need to recruit for the principal roles.
I hope this helps.