Hey there miss X-melon,
Thanks for dropping us a line. I like your profile, you have some awesome stuff there (not least of which is your GMAT and your GPA with a double major to boot!)
Let's jump straight into your questions:
1. I want to sign up for a pro bono project for a non-profit (through my firm). However, in this situation I would have to delay applying until Fall 2014. Do you recommend doing this (i.e. would this heavily bolster my application)?
If you will still get the sponsorship then, you will likely be a stronger candidate with one more year. Although even now you are excellent. It's up to you really based on what is right for you professionally and personally.
2. I'm a little below the average age of applicants. Does that put me at a disadvantage? It's another reason why I'm considering applying in Fall 2014.
Yes it does, but not that big a one. I feel that you could still get into some pretty darn good schools now.. the question is what would be the advantage to going to an MBA now if you have some advantage applying one year later.
3. Do I need more work experience? Again, if I apply in Fall 2014, I will have three years of work experience.
Do you NEED it? No. Can it help, yes. A bit.
4. What schools do I have a shot at?
Top 10 schools! (yep
5. What should my application strategy be?
Aha! This is the mother of all questions. If I could answer this in a phrase, then I wouldn't be able to have started a consulting firm.
... Buuuut in a nutshell the answer is: the most ambitious goals that you can have that make sense with what you have already done, and which highlights your past experience in the best possible way.
This is my first profile evaluation request, so I hope I included all the necessary information. Many thanks.
I hope all this stuff helps you out, and feel free to writer more about your thoughts about the pros and cons (professional, personal and otherwise) of applying this year and next and we can try and figure out together what might be best for you.