nonprofit
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| nonprofit [2018/04/02 14:01] – [6 reasons NOT to set up a Nonprofit] amycsj | nonprofit [2023/06/30 15:16] (current) – external edit 127.0.0.1 | ||
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| ====== Establishing and Running A Nonprofit ====== | ====== Establishing and Running A Nonprofit ====== | ||
| * Nonprofit Law and Consultation | * Nonprofit Law and Consultation | ||
| - | * Amy Hereford – JD, PhD | + | * Amy Hereford – JD, JCD/PhD |
| * 6400 Minnesota Ave – Saint Louis, MO 63111 | * 6400 Minnesota Ave – Saint Louis, MO 63111 | ||
| * 314-972-4763 – amyhereford@gmail.com | * 314-972-4763 – amyhereford@gmail.com | ||
| - | * (c) www.ahereford.org | + | * (c) [[http://www.ahereford.org]] |
| ---- | ---- | ||
| Line 129: | Line 129: | ||
| * Tax Laws still apply | * Tax Laws still apply | ||
| * Charitable Solicitation Laws still apply | * Charitable Solicitation Laws still apply | ||
| + | * [[https:// | ||
| * Take account of costs and fees (3-15%) | * Take account of costs and fees (3-15%) | ||
| * Equity, Loan, Gift | * Equity, Loan, Gift | ||
| Line 142: | Line 143: | ||
| * An attorney familiar with nonprofit law is an indispensable help in successfully meeting all these demands | * An attorney familiar with nonprofit law is an indispensable help in successfully meeting all these demands | ||
| * File Articles of Incorporation and draft Bylaws. | * File Articles of Incorporation and draft Bylaws. | ||
| - | * Apply for Federal Tax ID number and Federal Tax Exempt status. | + | * Apply for Federal Tax ID number and Federal Tax Exempt status. |
| + | * [[https:// | ||
| | Articles of Incorporation | | Articles of Incorporation | ||
| Line 164: | Line 166: | ||
| * Filed with Secretary of State | * Filed with Secretary of State | ||
| * Generally a fill in form, but care must be taken in drafting purpose clauses | * Generally a fill in form, but care must be taken in drafting purpose clauses | ||
| + | * [[https:// | ||
| + | * [[https:// | ||
| + | * Purpose and Dissolution - required language: [[https:// | ||
| ---- | ---- | ||
| Line 173: | Line 177: | ||
| * Role and responsibilities of the Board | * Role and responsibilities of the Board | ||
| * Meaningful oversight of staff – purposes, activities, financials | * Meaningful oversight of staff – purposes, activities, financials | ||
| - | * Amendment and Dissolution | + | * Amendment and Dissolution |
| Line 186: | Line 190: | ||
| * Tax exempt filing | * Tax exempt filing | ||
| * Employment taxes | * Employment taxes | ||
| + | * [[https:// | ||
| ===== Federal Tax Exemption Application ===== | ===== Federal Tax Exemption Application ===== | ||
| Line 202: | Line 207: | ||
| * Part XI User Fee | * Part XI User Fee | ||
| * Supporting Schedules | * Supporting Schedules | ||
| + | * [[https:// | ||
| Line 220: | Line 226: | ||
| * Remember: Approved Forms 1023-EZ are open to public inspection | * Remember: Approved Forms 1023-EZ are open to public inspection | ||
| * Don’t Forget to Pay the User Fee! | * Don’t Forget to Pay the User Fee! | ||
| + | * [[https:// | ||
| |Application Type |User Fee| | |Application Type |User Fee| | ||
| Line 258: | Line 265: | ||
| * Tax due on Unrelated Business Income – reported on Form 990-T | * Tax due on Unrelated Business Income – reported on Form 990-T | ||
| * Information Return | * Information Return | ||
| + | * 990N [[https:// | ||
| + | * 990 & 990-EZ [[https:// | ||
| ---- | ---- | ||
| Line 347: | Line 356: | ||
| ---- | ---- | ||
| - | ** | + | **Local Regulatory Issues** |
| - | Local Regulatory Issues** | + | |
| * Business licenses and permits | * Business licenses and permits | ||
| * Licensing and insurance of professionals | * Licensing and insurance of professionals | ||
| Line 435: | Line 443: | ||
| **Further Resources** | **Further Resources** | ||
| - | * www.ahereford.org/ | + | * [[www.ahereford.org/ |
| * Email amyhereford@gmail.com for more information | * Email amyhereford@gmail.com for more information | ||
| - | * www.irs.gov/ | + | * [[www.irs.gov/ |
| - | * http:// | + | * [[http:// |
| + | * [[http://a.co/ | ||
| ===== 6 reasons NOT to set up a Nonprofit ===== | ===== 6 reasons NOT to set up a Nonprofit ===== | ||
| Line 449: | Line 458: | ||
| ===== Dissolution ===== | ===== Dissolution ===== | ||
| - | * To meet and/or extinguish all outstanding claims against the organization | + | * Meet and/or extinguish all outstanding claims against the organization |
| - | * Articles of Dissolution to Secretary of State | + | * Send Articles of Dissolution to Secretary of State |
| * Required approval: Directors | * Required approval: Directors | ||
| - | * Higher standards may be found in the Articles or Bylaws | + | * Higher standards |
| - | * Notice to Attorney General | + | * Send Notice to Attorney General |
| * Notice of who received assets of the Nonprofit | * Notice of who received assets of the Nonprofit | ||
| * Retain enough to pay any outstanding debts and professional fee | * Retain enough to pay any outstanding debts and professional fee | ||
| - | * Notices to claimants | + | * Send Notices to claimants |
| * Mail notice to known claimants | * Mail notice to known claimants | ||
| * Publish notice for unknown claimants | * Publish notice for unknown claimants | ||
| * Obtain Tax Clearance Letter from Dept of Revenue | * Obtain Tax Clearance Letter from Dept of Revenue | ||
| - | * Articles of Termination to Secretary of State | + | * Send Articles of Termination to Secretary of State |
| * Mail with Tax Clearance Letter | * Mail with Tax Clearance Letter | ||
| * Once all business is complete | * Once all business is complete | ||
| Line 1003: | Line 1012: | ||
| ----- | ----- | ||
| + | ==Parting Words=== | ||
| * Board composition and numbers matter; guard against founder' | * Board composition and numbers matter; guard against founder' | ||
| * Policies are important but must be understood, implemented and enforced | * Policies are important but must be understood, implemented and enforced | ||
/users/ahereford.org/htdocs/canonlaw/data/attic/nonprofit.1522702912.txt.gz · Last modified: 2023/06/30 15:19 (external edit)