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How to form a nonprofit corporation

Author: Mancuso, Anthony Publisher: Nolo, 2007.Edition: 8th ed.Language: EnglishDescription: 393 p. ; 28 cm. includes CD-ROM / DVDISBN: 9781413306477Type of document: BookNote: CD available inside back cover Bibliography/Index: Includes index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Europe Campus
Main Collection
Print K708.33 .U7 M36 2007
(Browse shelf)
001233604
Available 001233604
Total holds: 0

CD available inside back cover

Includes index

Digitized

How to Form a Nonprofit Corporation Table of Contents Your Legal Companion for Forming a Nonprofit Corporation Part One: How Nonprofit Corporations Work 1 Is Nonprofit Incorporation Right for You? Is Your Group a Nonprofit That Can Use This Book?.......................... 7 Benefits of the Nonprofit Corporation ................................................. 9 The Disadvantages of Going Nonprofit..............................................13 How Nonprofits Raise, Spend, and Make Money.............................. 16 Your Path to Nonprofit Status............................................................ 17 Where Should You Incorporate?........................................................ 18 2 Legal Rights and Duties of Incorporators, Directors, Officers, Employees, and Members Incorporators and Their Role as Promoters...................................... 22 Directors............................................................................................ 24 Officers.............................................................................................. 33 Employees......................................................................................... 34 Membership Nonprofits..................................................................... 35 3 Requirements for Section 501(c)(3) Tax Exemption Section 501(c)(3) Organizational Test............................................... 40 Valid Purposes Under Section 501(c)(3)........................................... 41 Other Requirements for 501(c)(3) Groups......................................... 48 Information for Specific Questions About Your Group's Activities..... 54 4 Public Charities and Private Foundations The Importance of Public Charity Status........................................... 58 How to Qualify for Public Charity Status............................................ 58 Private Foundations...........................................................................73 5 Other Tax Benefits and Reporting Requirements Federal and State Tax Deductions for Contributions....................... 78 Federal Estate and Gift Tax Exemptions......................................... 79 Federal Unrelated Business Income Tax......................................... 80 State Corporate Income Tax Exemptions........................................ 82 Other State Taxes.............................................................................83 State Solicitation Regulations...........................................................83 State Nonprofit Corporate Report Requirements............................. 84 Part Two: Incorporating Your Nonprofit 6 Choose a Name and File Your Articles of Incorporation Obtain Materials From Your Secretary of State............................... 90 Choose a Corporate Name...............................................................91 Check Name Availability...................................................................96 What to Do When There's a Name Conflict..................................... 98 Reserve Your Corporate Name........................................................ 99 Perform a Name Search...................................................................100 Protect Your Name........................................................................... 103 Prepare Your Articles of Incorporation............................................. 104 File Your Articles of Incorporation ................................................... 118 7 Prepare Your Bylaws Choose a Membership or Nonmembership Structure......................122 Purpose and Scope of Our Bylaws.................................................. 123 Prepare Your Bylaws........................................................................ 124 Prepare Membership Provisions...................................................... 135 8 Apply for Your Federal 501(c)(3) Tax Exemption Getting Started..................................................................................143 Do You Need to File Form 1023?.....................................................148 Prepare Your Tax Exemption Application........................................ 148 Filling Out the Schedules..................................................................190 Assemble and Mail Your Application to the IRS...............................197 What to Expect From the IRS...........................................................198 The Federal Determination Letter.................................................... 198 9 Final Steps in Organizing Your Nonprofit Obtain State Corporate Income Tax Exemption.............................. 202 Set Up a Corporate Records Book.................................................. 202 Prepare the Minutes of Your First Board of Directors Meeting........ 203 Place Minutes and Attachments in Corporate Records Book.......... 206 Issue Membership Certificates........................................................ 206 File Fictitious or Assumed Business Name Statement.................... 206 Apply for a Federal Nonprofit Mailing Permit................................... 207 Apply for Property Tax Exemptions................................................. 207 File an Initial Corporate Report Form.............................................. 208 Register With the Attorney General................................................. 208 Comply With Political Reporting Requirements............................... 209 Prepare Assignments of Leases and Deeds................................... 209 File Final Papers for Prior Organization.......................................... 210 Notify Others of Your Incorporation................................................. 210 10 After Your Corporation Is Organized Piercing the Corporate Veil--If You Want to Be Treated Like a Corporation, It's Best to Act Like One............................... 214 Federal Corporate Tax Returns....................................................... 215 State Corporate Tax Returns and Reports...................................... 217 Federal and State Corporate Employment Taxes........................... 218 Employee Income Tax Returns....................................................... 218 Sales Tax Forms and Exemption From Sales Tax.......................... 218 Licenses and Permits...................................................................... 219 Workers' Compensation.................................................................. 219 Private Insurance Coverage............................................................ 219 Dissolving a Nonprofit Corporation.................................................. 219 11 Lawyers and Accountants Lawyers........................................................................................... 222 Legal Research............................................................................... 223 Accountants and Tax Advice........................................................... 224 A Appendix A: How to Use the CD-ROM Installing the Form Files Onto Your Computer................................ 228 Using the Word Processing Files to Create Documents..................229 Using Government Forms.............................................................. 230 Files Included on the Forms CD..................................................... 232 Corporate Forms Incorporation Checklist Request for Nonprofit Corporation Information Name Availability Letter Application for Reservation of Corporate Name Articles of Incorporation Articles Filing Letter Bylaws Waiver of Notice and Consent to Holding of First Meeting of Board of Directors Minutes of First Meeting of Board of Directors IRS Forms and Publications and Tax Articles Form 1023: Application for Recognition of Exemption Instructions for Form 1023 Form SS-4: Application for Employer Identification Number Instructions for Form SS-4 Form 5768: Election/Revocation of Election by an Eligible Section 501(c)(3) Organization To Make Expenditures To Influence Legislation Publication 557: Tax Exempt Status for Your Organization Publication 4220: Applying for 501(c)(3) Tax-Exempt Status Publication 4221: Compliance Guide for 501(c)(3) Tax-Exempt Organizations Publication 1828: Tax Guide for Churches and Religious Organizations IRS Revenue Procedure 75-50 IRC Section 4958, Taxes on Excess Benefit Transactions IRS Regulations Section 53.4958-0, Table of Contents Public Charity or Private Foundation Status Issues Under IRC §§ 509(a) (1)-(4), 4942(j)(3), and 507 Disclosure, FOIA, and the Privacy Act Update: The Final Regulations on the Disclosure Requirements for Annual Information Returns and Applications for Exemption Education, Propaganda, and the Methodology Test Election Year Issues Lobbying Issues Private School Update UBIT: Current Developments Intermediate Sanctions (IRC Section 4958) Update B Appendix B: State Sheets C Appendix C: Information and Tear-Out Forms Incorporation Checklist Special Nonprofit Tax-Exempt Organizations Request for Nonprofit Corporation Information Name Availability Letter Application for Reservation of Corporate Name Articles of Incorporation Articles Filing Letter Bylaws (including Membership Provisions and Adoption of Bylaws clause) Waiver of Notice and Consent to Holding of First Meeting of Board of Directors Minutes of First Meeting of Board of Directors IRS Form 1023: Application for Recognition of Exemption IRS Form SS-4: Application for Employer Identification Number IRS Form 5768: Election/Revocation of Election by an Eligible Section 501(c)(3) Organization To Make Expenditures To Influence Legislation Index

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