2006-08-12 16:39:26 · 5 answers · asked by maryjane 2 in Business & Finance ➔ Small Business
This information should not be used as a substitute for legal advice.
I think that the first question you should ask yourself is, what is my non-profit activity. Is it charitable, religious, philanthropic, etc.
Who are you trying to help is another consideration. Will your activities be available to the general public?
What sources of funding will you utilize for your overhead? How will you pay for your operating expenses? What about payroll?
Assuming that you have already chosen a name and a governing board for the organization, you may want to incorporate as a not-for-profit entity with your state. There may also be city, county, and local licenses that you need. Many states may also require you to register with the Attorney Generals office for that state. You may also need to apply to the IRS for a FEIN number. Lastly, if you are interested in tax-exempt status with the IRS, you will need to complete a Form 1023 application. Note that an entity may be incorporated in their state as an NFP, but they will still need to apply to the government for tax exempt status.
Not-for-profits may be required to submit annual reports to the IRS (Form 990).
I hope this information was helpful.
2006-08-12 16:58:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Try competing with China in circuit manufacturing, you're assured of making no profit.
2006-08-13 01:07:52 · answer #2 · answered by Captain_Ahab_ 3 · 0⤊ 0⤋
Your best bet is to contact your local small business association and get advice from them. Then contact your state Government section and see if they have any small business loans or help they can provide you with.
2006-08-12 23:43:44 · answer #3 · answered by TLC Properties 2 · 0⤊ 0⤋
Talk to a lawyer.
2006-08-12 23:45:16 · answer #4 · answered by NC 7 · 0⤊ 0⤋
If you have the money to invest... I do have the means.
2006-08-13 03:19:34 · answer #5 · answered by fistfull-of-$ 3 · 0⤊ 0⤋