Amy Hereford - Nonprofit

Contact:
Amy Hereford, CSJ
Attorney Canonist
CSJ Ministries
6400 Minnesota Ave.
St. Louis, MO 63111-2807
Phone: 314-266-1814
Phone: 314-467-8038
Fax: 815-550-1329
Contact on Skype

amyhereford <at> gmail.com

Newsletter

Web Seminars

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Nonprofit Corporation Compliance Issues:

Nonprofit Corporations generally file for Tax Exemption from the IRS. This exemption carries some requirements, namely:
1. Annual filing of Form 990
2. Abstaining for all political campaigning
3. Enganing in only limited lobbying
4. No private benefit, particularly to members and officers of the corporation
5. Transfer of the assets to a charitable purpose when the corporation dissolves
6. Activities unrelated to the organization's purpose are taxable (UBIT)
Many states have requirements for nonprofit organizations, including:
1. Registering with the Attorney General
2. Registering and reporting on fundraising activities
3. Filing an annual report
4. Reporting any significant transfer of assets out of the state of incorporation

Establishing and Running a Nonprofit - This one hour webcast provides an overview of the legal basics for establishing and running a nonprofit organization.

Nonprofit Workbook: This downloadable publication gives all the points on the following checklist in the form of a workbook. The requirements are presented in a step-by-step format with ample space for notes, charts for gathering necessary information and tables to develop timelines. An excellent tool for assisting in non-profit formation.

Nonprofit Corporation Checklist:

Research goals and mission
Develop a plan and recruit board members
Establish Corporation
1. Adopt Articles of Incorporation and File with the State
2. Name the Board of Directors and adopt Bylaws
3. Obtain an EIN - Tax ID number by filing form SS-4 with the IRS
4. Obtain Tax Exempt status by filing Form 1023with the IRS
Establish a Conflict of Interest Policy
Establish financial management
1. A corporate banking account,
2. An accounting system adequate for
  1. organizational management
  2. tax reporting
  3. grant tracking
  4. proving substantiation letters to contributors
3. Meaningful financial oversight
4. Internal controls
Contact the state tax board for information about obtaining a state tax number and see if additional information must be submitted for state tax exemption from income tax and sales tax, etc.
Check with the state department of consumer affairsor business licensing to obtain any required business licenses or permits.
Contact the state Attorney General's Office to see if registration or reporting is required.
Find out about workers' compensation if you will have employees.
Protect your trade name
Order any required notices (advertisements you have to place) of your intent to begin operating in the community.
Check zoning laws.
Obtain city and/or county business licenses or permits.
Get adequate insurance or a rider to a homeowner's policy.
Get tax information for employees, including guidelines for withholding taxes, information on hiring independent contractors, etc.
Apply for a federal non-profit mailing permit.
Order business cards and stationery.
Get an email address.
Set up your website.
Develop a Corporation Checklist of legal requirements for operation including:
1. Board Meetings
  1. Annual Meeting:
    1. Program Review,
    2. Budget Approval,
    3. Appoint Board Members,
    4. Elect Officers
2. Federal Tax Filings:
  1. Form 990
  2. Employment Tax
3. State Filings
  1. Corporation
  2. Tax
  3. Charitable Solicitation
Ongoing steps to develop the organization
1. Educate and Assess the Board
2. Select, educate and evaluate the Director and key staff
3. Develop a strategic plan
  1. Review vision and mission
  2. Review programs and activities
  3. Review financials, fundraising and legal compliance
  4. Identify areas of growth and stagnation in the organization
  5. Examine areas of possiblities for growth and needed services

Some links to other Nonprofit Sites.

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