Highly Experienced Business, Non-Profit and Religious Organization Lawyer
A not-for-profit corporation must be formed at the outset. That format will not, however, entitle the corporation to solicit or receive tax-deductible contributions. That will require an application to the IRS for a federal tax exemption under Section 501(c)(3) of the Internal Revenue Code. The rules are complicated and involve an inter-play of state corporate requirements and IRS regulations.
Some of the issues to consider:
● state of incorporation
● board membership
● states in which you intend to solicit contributions
Some of the documents you will need are:
● Certificate of Incorporation that incorporate IRS criteria
● Conflict of Interest Policy
● IRS Application Form
Your application to the IRS for a Letter of Determination requires you to:
● indicate how compensation of the senior executives will be determined;
● set forth your Conflict of Interest Policy;
● name your Board Members and their relationships
It is important to note that contributions should not be solicited until the charity laws of the states in which you plan to solicit are consulted. You will probably be required, in each state, to submit an application and get consent before soliciting.