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Starting a Nonprofit: Checklist (Part 2)

In our previous post, Starting a Nonprofit: Checklist (Part 1), we discussed the organizational steps leading up to forming your 501c3 nonprofit organization: Write a purpose statement Pick a business name Choose your board of directors Decide what state to

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Posted in Start a Business

Starting a Nonprofit: Checklist (Part 1)

Starting a nonprofit organization is a complex process, requiring extensive planning and compliance with both state and federal jurisdictions. But there’s an easy way not to be overwhelmed—as with anything in business, a solid plan and careful research are the keys

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Posted in Start a Business

Nonprofit Corporation Checklist

Steps to Starting a Nonprofit Organization After making the decision to incorporate, there are a few things to keep in mind when starting a non-profit organization. Here is a brief list of some of the things that must be done.

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Posted in Start a Business

Nonprofit Incorporation and Tax Advantage

Corporations involved in areas like education, scientific research, religion, or charity can apply for a special type of nonprofit business incorporation. Such incorporation provides limited liability to the members of management. Forming a nonprofit company helps in its legal protection

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Posted in Business Finance, Doing Business

Nonprofit Corporations: Three Business Purposes to Avoid

Every business would love to avoid income tax, and every customer would love to deduct their day-to-day donations and purchases on their tax return. Savvy to this, the IRS has specific guidelines in place to ensure that only organizations formed

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Posted in Start a Business

Organizing Your Business Part 3: Corporations

The creation of a corporation is the creation of an artificial person. For legal and tax purposes, a corporation is a separate entity from its owners. A corporation can make purchases, enter into contracts, pay taxes, and sue and be

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