Nonprofit Status & Formation
Chico Business Law Attorney
If you are thinking about forming a nonprofit business or corporation,
you should allow Chico Business Law Attorney Nikki Farris of The Law Office
of Nikki Farris to help you with each step along the way. Your personal
and business goals will become her priority when she manages your case.
We are always looking for creative ways to further improve our clients’
lives through litigation and legal guidance, and if forming a nonprofit
business is what you want to do, we want to be the ones who assist you.
Benefits of a nonprofit organization you can enjoy include:
- Exemption from many corporate income taxes.
- Ability to raise money through public and private donations or grants.
- Protects company controllers from personal liabilities.
If you want to get started right away, feel free to call us at 530-898-1488 today.
Steps Required to Get Nonprofit Status
Due to the fact that most nonprofit organizations deal with education,
scientific research, or charitable groups, such as a branch of a popular
local religion, they serve an important role in our society and should
be encouraged. On the other hand, the government has a keen interest in
the validity of nonprofit groups because they contribute little or nothing
to taxes due to unique exemptions. To make certain that your nonprofit
is legitimate in the eyes of the law, you will need to follow these steps
with the help of our lawyer:
1. Name at least one director.
2. Choose a unique name for your nonprofit group.
3. Create nonprofit articles of incorporation documentation.
4. Make a statement of purpose for the Internal Revenue Service (IRS).
5. Establish company bylaws.
6. File paperwork to appropriate offices and keep copies.
7. Conduct a board of directors meeting.
Once your nonprofit corporation is official, you must take additional steps
to earn your federal tax exemption status. You will need to fill out a
Form 1023 and met certain requirements. Be sure to work closely with your
legal representative if you have any questions or concerns about this
procedure. If it is done incorrectly, you may find yourself or your corporation
owing money to the federal government.
Our Firm Has All the Answers
Setting up and running a nonprofit organization or corporation is a complicated
process. If you need help at any point, remember that our Chico business
law attorney can be the one to see you through to the other side of the
issue, all without letting your best interests be ignored.
Contact us today and we would be happy to schedule a
free case evaluation that works for your calendar.