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get your Non-Profit
but what is a non-profit?
non-profit
Getting your C-Corp is not hard. Question is, is a C-Corp the right structure for your business. Here are a few things to consider:
What is a Non-profit?
An organization established for charitable, educational, or humanitarian purposes, which operates without the intention of generating profit for its members or owners.
Grant and Funding Opportunities:
Non-profit organizations have access to various grant programs and funding opportunities that are specifically available to non-profit entities.
Liability Protection
Similar to for-profit corporations, non-profit corporations also provide limited liability protection.
Capital (Operating Reserve)
Non-profits like all other corporations have access capital allowing them to raise investments to further their work.
Tax Exemption
Unlike other types of business structures, Non-profits are eligible to apply for the 501(c)(3) making them tax free on any money they make.
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Purchase your Non-profit now — we’ll file all your necessary documents:
more about non-profits
Non-profits are independent legal entities. Pretty cool, right?
Overview
A non-profit corporation, also known as a non-profit organization (NPO), is an entity formed for purposes other than generating profit. It is established to serve a specific cause, address a social issue, or benefit a particular group or community. Non-profit corporations are typically driven by a mission to achieve charitable, educational, religious, scientific, or humanitarian objectives.
One key characteristic of non-profit corporations is that they reinvest any surplus funds back into the organization to further their mission rather than distributing profits to shareholders or owners. This financial structure ensures that resources are utilized for the organization’s stated goals rather than personal gain. Non-profit corporations are governed by a board of directors or trustees who oversee the organization’s operations, finances, and adherence to its mission.
Non-profit corporations can be highly beneficial for individuals and communities in several ways. Firstly, they address societal needs that may not be adequately met by government or for-profit entities. Non-profits often focus on social issues such as poverty alleviation, healthcare access, education, environmental conservation, and cultural preservation. By pursuing these goals, they make a positive impact on society, improving the well-being and quality of life for many people.
Secondly, non-profit corporations offer opportunities for individuals to contribute to causes they care about. These organizations rely on volunteers, donors, and supporters to carry out their work. People who are passionate about a particular issue or want to make a difference can get involved by donating their time, skills, or financial resources. Non-profits provide platforms for individuals to engage in meaningful and fulfilling activities, creating a sense of purpose and community.
In summary, non-profit corporations are organizations formed to pursue a specific mission or address social needs without the primary goal of generating profit. They serve as vehicles for social change, provide opportunities for individuals to engage in meaningful work, and contribute to the betterment of society. By supporting non-profit organizations, individuals can align their values with actions and make a positive impact on the world around them.
Basic History
Non-profit organizations have a rich historical background dating back to ancient times.
Religious institutions, such as temples and monasteries, provided charitable services and welfare support to the community. In the Middle Ages, guilds and fraternities emerged, offering mutual aid and support to members. Modern philanthropy gained momentum in the 17th and 18th centuries, with influential figures like Benjamin Franklin and Andrew Carnegie promoting charitable giving.
The 19th century witnessed a significant rise in charitable institutions addressing social needs stemming from industrialization and urbanization.
Finally, in the 20th century, non-profit organizations gained legal recognition and formal structures. Governments created regulations and frameworks to define their operations and tax-exempt status. The historical evolution of non-profits reflects the enduring human desire to address social issues, promote well-being, and contribute to the betterment of society.
Board of Directors Meetings
You must have regulard Board of Directors meetings to keep within the requirements of what it means to be a C-Corp.
Shareholder Meetings
You must have one shareholder meeting a year.
Meeting Minutes
You must keep minutes of your meetings. This is crucial. If you don’t do this, your corporate veil may be pierced.
