Forming your non-profit properly from the start is critical. Entity formation in Arizona is the first step, but your internal documentation must comply with IRS regulations if you intend to apply for tax-exempt status. The IRS will consider tax-exempt status for charitable or social welfare organizations, including those that exist for religious, educational, charitable, scientific, and literary purposes.
The Articles of Incorporation are customized for a non-profit entity, and certain other documents are needed for your 501(c)(3) application, such as a conflict-of-interest policy for your officers and board of directors, and a records retention and destruction policy for your everyday operations. Additionally I will create custom bylaws for your entity and draft a code of ethics for leaders, employees, and volunteers.
Ongoing governance of a non-profit is important to ensure that your organization takes all the steps needed to maintain its tax-exempt status. I can assist with formulating a process for running Board Meetings, taking effective minutes, documenting board resolutions related to major decisions, and assisting with employment and compensation matters to keep your entity legally compliant.
Contact the Law Office of Wendy Anderson to make sure your non-profit formation documents are accurate - and to ensure that your day-to-day processes are compliant - so that you can focus on the important purpose of your organization.
A non-profit entity is a corporation that has no equitable owners and does not distribute its profits. Instead, the profits are retained by the entity to use for its non-profit purposes, such as religious, educational, charitable or scientific pursuits that benefit the general public.
The purpose of a non-profit is to benefit the general public. Charitable organizations generally have a religious, educational, charitable or scientific purpose. The funds raised by non-profits may only be used to further the purpose of the entity and to fairly compensate its workers.
A 501(c)(3) is one type of non-profit entity that has been granted tax-exempt status from the IRS. 501(c)(3)s exist for charitable and social welfare purposes, including religious, educational, charitable and scientific pursuits.
A non-profit can be formed by submitting Articles of Incorporation to the Arizona Corporation Commission. There are certain sections that must be included in the Articles of a non-profit when compared to a for-profit corporation, such as the purpose of the entity, if you intend to apply for tax exemption.
A non-profit entity gets tax exemption by submitting a Form 1023 to the IRS and having that application approved. Tax exemption is only required if the organization wants its donors to be able to write-off their donations or if the organization wants to be exempt from taxes itself.
Tax exemption is granted to non-profit organizations that apply to the IRS. While the Form 1023 application is pending, a non-profit organization may operate, but cannot represent that it is tax exempt until approved by the IRS.
Generally there are no owners of a non-profit entity, although there may be members who serve in leadership and decision-making roles.
Yes, any person can be the incorporator of a non-profit entity, however, that person is not considered the owner since non-profits have no owners.
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