nonprofit
Differences
This shows you the differences between two versions of the page.
| Both sides previous revisionPrevious revisionNext revision | Previous revision | ||
| nonprofit [2017/07/19 12:07] – amycsj | nonprofit [2023/06/30 15:16] (current) – external edit 127.0.0.1 | ||
|---|---|---|---|
| Line 1: | Line 1: | ||
| ====== 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) [[http:// | ||
| ---- | ---- | ||
| Line 128: | 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 141: | 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 163: | 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 172: | 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 185: | Line 190: | ||
| * Tax exempt filing | * Tax exempt filing | ||
| * Employment taxes | * Employment taxes | ||
| + | * [[https:// | ||
| ===== Federal Tax Exemption Application ===== | ===== Federal Tax Exemption Application ===== | ||
| Line 201: | Line 207: | ||
| * Part XI User Fee | * Part XI User Fee | ||
| * Supporting Schedules | * Supporting Schedules | ||
| + | * [[https:// | ||
| Line 214: | Line 221: | ||
| **Form 1023-EZ** | **Form 1023-EZ** | ||
| * requires organizations to: | * requires organizations to: | ||
| - | * Certify that organizing document complies with 501(c)(3) | + | * Certify that organizing document complies with 501c3 |
| * Certify that organization will not engage in prohibited activities | * Certify that organization will not engage in prohibited activities | ||
| * Provide names/ | * Provide names/ | ||
| * 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! | ||
| - | | + | |
| + | |||
| + | |Application Type |User Fee| | ||
| + | |Form 1023|$600| | ||
| + | |Form 1023-EZ|$275| | ||
| + | |Group exemption letter|$2, | ||
| + | |||
| * Must be paid through www.pay.gov | * Must be paid through www.pay.gov | ||
| * Approval of your application is not guaranteed | * Approval of your application is not guaranteed | ||
| Line 228: | Line 242: | ||
| **Form 1023-EZ** | **Form 1023-EZ** | ||
| - | * for smaller organizations seeking | + | * for smaller organizations seeking |
| * Annual gross receipts >$50k | * Annual gross receipts >$50k | ||
| * Total assets > | * Total assets > | ||
| Line 251: | 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 340: | 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 428: | 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 ===== | ||
| * 1. There is already an organization filling that need. | * 1. There is already an organization filling that need. | ||
| * 2. You do not have other people “on board” yet. | * 2. You do not have other people “on board” yet. | ||
| - | * 3.Your idea is better suited as a for-profit enterprise | + | * 3. Your idea is better suited as a for-profit enterprise |
| * 4. Starting up takes time. | * 4. Starting up takes time. | ||
| * 5. You’d like to plan a one time fundraiser. | * 5. You’d like to plan a one time fundraiser. | ||
| * 6. Your type of cause makes it difficult to secure long term funding. | * 6. Your type of cause makes it difficult to secure long term funding. | ||
| + | ===== Dissolution ===== | ||
| + | * Meet and/or extinguish all outstanding claims against the organization | ||
| + | * Send Articles of Dissolution to Secretary of State | ||
| + | * Required approval: Directors | ||
| + | * Higher standards for approval may be found in the Articles or Bylaws | ||
| + | * Send Notice to Attorney General | ||
| + | * Notice of who received assets of the Nonprofit | ||
| + | * Retain enough to pay any outstanding debts and professional fee | ||
| + | * Send Notices to claimants | ||
| + | * Mail notice to known claimants | ||
| + | * Publish notice for unknown claimants | ||
| + | * Obtain Tax Clearance Letter from Dept of Revenue | ||
| + | * Send Articles of Termination to Secretary of State | ||
| + | * Mail with Tax Clearance Letter | ||
| + | * Once all business is complete | ||
| ====== Part II ====== | ====== Part II ====== | ||
| Line 557: | Line 588: | ||
| **Traditional Nonprofit Organization Structure** | **Traditional Nonprofit Organization Structure** | ||
| {{ :: | {{ :: | ||
| - | |||
| - | * Other: Ad Hoc or Program Committees | ||
| - | * Budget and Finance Committee | ||
| - | * Board of Directors | ||
| - | * Fundraising Committee | ||
| - | * Nominating Committee | ||
| - | * -CEO- Executive Director (or President) | ||
| - | * Asst. Director Development (or Vice President) | ||
| - | * -CFO- Asst. Director Finance (or Vice President) | ||
| - | * -COO- Asst. Director Operations (or Vice President) | ||
| - | * Asst. Director Planning/ Marketing (or Vice President) | ||
| - | * -COO- Asst. Director PR/ | ||
| - | * Asst. Director Human Resources (or Vice President) | ||
| ---- | ---- | ||
| **Honorary and Adjunct Boards** | **Honorary and Adjunct Boards** | ||
| - | * Fundraising: | + | {{ ::honorary.png? |
| - | * Board of Governors | + | |
| - | * Board of Advisors | + | |
| - | * Friends Groups | + | |
| - | * Supporting Organizations | + | |
| - | * Community, Citizen Board | + | |
| - | * Steering Committees | + | |
| - | * Board of Directors or Trustees | + | |
| - | * Fundraising Committee | + | |
| - | * Budget and Finance Committee | + | |
| - | * Other: Ad Hoc or Program Committees | + | |
| - | * Nominating Committee | + | |
| - | * Executive Director | + | |
| - | * Advisory: | + | |
| ----- | ----- | ||
| Line 636: | Line 641: | ||
| **What is Fiscal Sponsorship? | **What is Fiscal Sponsorship? | ||
| - | * An arrangement between a 501(c)(3) | + | * An arrangement between a 501c3 public charity and a project in which, typically, the charity receives and expends funds to advance the project while retaining discretion and control over the funds. |
| * Not Fiscal Agency – Wrong Term | * Not Fiscal Agency – Wrong Term | ||
| * charity is not agent to receive project $ | * charity is not agent to receive project $ | ||
| Line 722: | Line 727: | ||
| **Problems Common to Both Models** | **Problems Common to Both Models** | ||
| - | * Sponsor is “absent, | + | * Sponsor is “absent, |
| * No written agreement | * No written agreement | ||
| * Confusion with DAF or other programs | * Confusion with DAF or other programs | ||
| Line 1007: | 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/pages/nonprofit.txt · Last modified: 2023/06/30 15:16 by 127.0.0.1