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    The document discusses how to form a nonprofit organization. It notes that nonprofits are purpose-driven and not intended to make a profit, but rather further social causes and provide public benefits. There are advantages to being a nonprofit like being tax exempt, limited liability, and eligibility for certain grants. An organization can either do it themselves by following six steps or hire someone else to help form the nonprofit. Key forms mentioned are Form 1023 used to claim tax-exempt status and Form 990 that certain charitable nonprofits must file annually.

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    The document discusses how to form a nonprofit organization. It notes that nonprofits are purpose-driven and not intended to make a profit, but rather further social causes and provide public benefits. There are advantages to being a nonprofit like being tax exempt, limited liability, and eligibility for certain grants. An organization can either do it themselves by following six steps or hire someone else to help form the nonprofit. Key forms mentioned are Form 1023 used to claim tax-exempt status and Form 990 that certain charitable nonprofits must file annually.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    39 views9 pages

    Slide 1

    Uploaded by

    api-664350584
    The document discusses how to form a nonprofit organization. It notes that nonprofits are purpose-driven and not intended to make a profit, but rather further social causes and provide public benefits. There are advantages to being a nonprofit like being tax exempt, limited liability, and eligibility for certain grants. An organization can either do it themselves by following six steps or hire someone else to help form the nonprofit. Key forms mentioned are Form 1023 used to claim tax-exempt status and Form 990 that certain charitable nonprofits must file annually.

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    of 9

    Nonprofit

    Organization
    BY JOY KEITH
    It is purposed driven

    NOT TO MAKE PROFIT FURTHER SOCIAL PROVIDE A PUBLIC


    FOR THEIRSELF CAUSE BENEFIT
    Advantages of being a nonprofit

    Tax Exempt Limited liability Enhanced ability to Discounted rates on Certain Marketing
    apply for grants stamps and advertising cost
    There are two ways to form a
    nonprofit.

    Hire someone
    Do it yourself
    to do it for you
    Do it yourself

    Saves money

    There are six steps

    Choose and secure your nonprofit name

    Appoint a registered agent

    Select directors and officers

    File the certificate of formation

    Operating procedures and housekeeping

    Apply for 501(c)(3) status


    Hire someone to do it for you

    HELPS WITH GETTING HELPS KEEP YOU AVAILABLE AT ALL


    REPORTS FILED ON TIME ORGANIZED REGULAR BUSINESS HOURS
    Form 1023

    It is used for
    • Charities
    • Nonprofit
    • Religious Groups
    You get the form from the IRS website or your
    local tax office
    You must fully complete the form (parts 1 thru
    11)
    Make sure you sign and date
    There might be other schedules that you need to
    attach
    The purpose used by organizations that are
    claiming tax exempt status
    • Religious organizations
    • Education Service

    Form 990
    • Qualifying charitable organizations
    You can get it off the IRS website or
    local tax office
    Leave anything blank that does not
    apply to organization
    Might be numerous schedules to attach
    • https://www.youtube.com/watch?v=0nTI
    fQ5_7XM

    • https://www.youtube.com/watch?v=EGF
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    • https://www.youtube.com/watch?
    v=XueK5xGm85Q

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