The formation of a nonprofit corporation begins with filing Articles of Incorporation with the North Carolina Secretary of State. In order to be accepted and granted tax-exempt status, the Articles of Incorporation must contain specific provisions in addition to those required by the secretary of state.
Upon corporate establishment, an initial board of directors must ratify bylaws. Bylaws govern the decision making process of the board, and outline the general operation and management of the corporation. The corporate bylaws must be consistent with the North Carolina Nonprofit Corporation Act, as well as IRS regulations.
As a North Carolina Nonprofit Business lawyer, I can help guide you through the legal and documentary requirements, which include:
- Selection of Directors and Officers
- Ratification of Bylaws
- Ratification of Conflict of Interest Policy
- Plan Programs, financial plan
- Complete and File Application for Tax Exempt Status (Form 1023 or 1024)
- North Carolina Charitable Solicitation License
- File with North Carolina Department of Revenue
Articles Related to Nonprofit Organizational Documents:
The Bylaws are the document which direct the way your nonprofit corporation is governed. There are certain standard features, but those features should be tailored to your specific needs. The Board of Directors is the group of individuals who choose the direction for the organization and have the fiduciary responsibility...
The first step in setting up your tax-exempt organization is to incorporate as a nonprofit corporation with the North Carolina Secretary of State. The IRS will grant tax-exempt status to corporations, trusts, unincorporated associations, and some limited liability companies; however, a corporation offers the most protection from liability to individuals...