CFG Classroom
The CFG classroom includes several online education programs. It provides helpful and easily understood introductions to relevant subjects.
Choose one of the following subjects:
VI. Establishing Your Own Nonprofit Organization
Forming a 501(c)(3), nonprofit corporation is similar to creating a regular corporation, except that nonprofits must also apply for tax-exempt status from the IRS and their state revenue division. These are the basic steps:
- Choose an original business name. Depending on your state of incorporation, the name must include a suffix or word such as "Corporation," "Inc.," or "Limited."
- File the required paperwork, which in most states is called the "Articles of Incorporation," and pay a filing fee. The fee is usually reasonable.
- Complete applications for federal and state tax exemptions. This information is easily found on the internet.
- Create corporate "bylaws." These are the operating rules for your nonprofit corporation. They can be fairly concise and straight-forward, or complex.
- Appoint initial directors to serve on the board. Some states require the board of directors to be in place before filing the Articles of Incorporation, because their names must be appear in the document.
- Hold an official board meeting.
- Check to see if you must get a state or local license and/or permit, and acquire them if necessary.
For more detailed information, we recommend reading this link.
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