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nonprofit [2018/03/06 17:39]
amycsj [Federal Tax Exemption Application]
nonprofit [2018/04/02 14:01] (current)
amycsj [6 reasons NOT to set up a Nonprofit]
Line 443: Line 443:
   * 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 =====
 +  * To meet and/or extinguish all outstanding claims against the organization
 +  * Articles of Dissolution to Secretary of State
 +    * Required approval: Directors
 +      * Higher standards may be found in the Articles or Bylaws
 +  * Notice to Attorney General
 +    * Notice of who received assets of the Nonprofit
 +    * Retain enough to pay any outstanding debts and professional fee
 +  * Notices to claimants
 +    * Mail notice to known claimants
 +    * Publish notice for unknown claimants
 +  * Obtain Tax Clearance Letter from Dept of Revenue
 +  * Articles of Termination to Secretary of State
 +    * Mail with Tax Clearance Letter
 +    * Once all business is complete
 ====== Part II ====== ====== Part II ======
  
nonprofit.txt · Last modified: 2018/04/02 14:01 by amycsj