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This article is part of our Nonprofit Business Startup Guide—a curated list of articles to help you plan, start, and grow your nonprofit business! Nonprofit corporations are organized very much like regular corporations; however, running a nonprofit corporation means complying with a few special rules. Here’s what you need to know. Organizational structure of nonprofit...
By Nolo
If you’re involved in a fledgling nonprofit organization, you and the other folks active in the group have probably wondered whether or not you should incorporate. Becoming a nonprofit corporation requires some paperwork, but for many groups, the benefits of nonprofit status outweigh the complications. Here are five circumstances that may make it worth your...
By Nolo
Nonprofit corporations, by definition, exist not to make money but to fulfill one of the purposes recognized by federal law: charitable, educational, scientific or literary. Under state and federal tax laws, however, as long as a nonprofit corporation is organized and operated for a recognized nonprofit purpose and has secured the proper tax exemptions, it...
By Nolo
Recently this question arrived asking about establishing a nonprofit agency. “I recently moved into a neighborhood that would benefit from a Community Action Group. I would like to start and manage a not-for-profit, where lower income residents would have access to funds to renovate or update their homes, thereby attracting more business into the area...
Forming a nonprofit corporation is much like creating a regular corporation, except that nonprofits have to take the extra steps of applying for tax-exempt status with the IRS and their state tax division. Here is what you need to do: Obtain nonprofit materials from your state’s corporate filing office. Choose an available business name that...
By Nolo
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