The Non Stock Corporation (Not for Profit aka Non-Profit)
Starting and sustaining a non-profit is not an easy task. ClienTax applauds your commitment to helping others! Youth sports organizations, homeowners associations, churches, animal rescues and educational foundations are just a few examples of groups that would usually be interested in creating a non-profit corporation. Typically, non-profit corporations will seek tax-exempt status under section 501(c)(3) of the IRS code.
One of the most important requirement for obtaining tax exempt status is the inclusion of proper language in Certificate of Incorporation that limits the company’s mission to tax exempt purpose. ClienTax will walk you through this process with the utmost care.
Here is an overview of a Not for Profit structure: