Each category has different tax benefits and requirements. While the majority of nonprofits are classified under 501(c)(3) of the IRS Code as charitable organizations, you should review the categories to determine the right choice for your nonprofit organization.
Đang chơi bàiThis process is very similar to creating a regular corporation except that you have to take the extra steps of applying for tax-exempt status with the IRS and their state tax division. These are the steps to take to incorporate your nonprofit:
- Choose a business name - Make sure to check the state-by-state information on the various laws that apply to naming a nonprofit in your state.
- Appoint a Board of Directors - Draft your bylaws with guidance from your Board of Directors. These are the operating rules for your nonprofit.
- Decide on a legal structure - Choose whether your organization will be a , , or .
- File your incorporation paperwork - You must next file formal paperwork, or articles of incorporation, and pay a small filing fee to your state. Look up your state office through the .
- Apply for tax-exempt status - A nonprofit organization may be eligible for exemption from federal income tax. The IRS provides guidance and instructions on . Learn more about federal tax exemption requirements in or by calling the IRS Tax Exempt and Government Entities Hotline at 1-877-829-5500.
Obtain necessary licenses and permits - Does your nonprofit have all the needed to comply with federal, state, and local rules?
Đang chơi bàiWhile individual donors make up the largest contributors to nonprofit organizations, federal, state and local governments offer grants, loans, and programs to support funding. helps you find and apply for federal government grants for your nonprofit.
Do you have a question?
Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.
Last Updated: April 9, 2019