How do you start a non profit organization?
Nonprofit incorporation is very similar to creating a regular corporation except that a nonprofit must take the extra steps of applying for tax-exempt status with the state in which it incorporates and with the IRS.
The following steps should be taken :-
Select a name that is legally available in your state.
File your “articles of incorporation,” and pay a filing fee.
Apply for federal and state tax exemptions.
Create bylaws that will dictate how the corporation is run.
Appoint an initial board of directors.
Hold the first meeting of the board of directors
Apply for any licenses or permits that your corporation will need to operate in your state and local municipality.
In order to qualify for tax-exempt (501c3) status , you should create a concept paper and document your ideas with the structure for the organization you propose and you must share your concept with like minded persons and involve them as initial founders.
Next step would be to contact an attorney to assist you in preparing incorporation filings in your state. After your organization in incorporated, obtain an employer ID number, and apply for 501c3 tax-exempt status with the IRS.
Your funding requirements will depend on various factors , for which you have to prepare a plan which will be of use to you in approaching potential funding sources .
13 septembre 2008 at 3:40
Whenever you incorporate, there are several tax and non-tax considerations that can have a long-lasting affect on you, your family and business associates; as well as your business itself.
I’ve researched this extensively and had considerable experience. I always suggest folks do their own research before either doing it themselves or hiring someone to do it for you. That way they know if the job is being done the best way for their situation. There is no substitute for first hand knowledge.
In any case, I always recommend that licensed legal and tax advisors be consulted before any action is take that can have legal or tax consequences. There is a good free e-course available called, “What You Must Know Before You Incorporate.” It is located at here.
I also provide a complete list including direct links to all the state’s corporate filings divisions. You can find sample articles of incorporation and more information free by clicking here.
I also made a list of things to consider when doing an incorporation name search. You can find that information by clicking here.