This state-specific form must be filed with the appropriate state agency in compliance with state law in order to create a new non-profit corporation. The form contains basic information concerning the corporation, normally including the corporate name, names of the incorporators, directors and/or officers, purpose of the corporation, corporate address, registered agent, and related information.
Tennessee Charter of Incorporation for Domestic Nonprofit Corporation
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You can also download and complete a Charter-Domestic (nonprofit) (Form ss-4418) form by hand and file by mail. The filing fee is $100. To receive 501(c)(3) tax-exempt status from the IRS, your corporation must have certain specific language in its articles, including: a statement of purpose that meets IRS requirements.
Nonprofit incorporation usually involves these steps: Choose a business name that is legally available in your state and file for an EIN (Employment Identification Number) Prepare and file your articles of incorporation with your state's corporate filing office, and pay a filing fee.
The standard filing fee for Form 1023 will cost you $750, but your fee will be reduced by $400 if you don't expect revenue to exceed $40,000. The financial considerations involved in starting a nonprofit require a lot of legwork and more than a little paperwork, but you will be rewarded with financial security.
A charter is a legal document that formally establishes a corporate entity.Most charters include the corporation's name, the location of its head office, the date of incorporation, the amount or type of stock to be issued, and any restrictions on areas of business activity or further share issuance.
Nonprofit Organizations are not Required to Incorporate If the nonprofit does not incorporate, it is not required to file any organizing documents unless it seeks tax-exempt status from the Internal Revenue Service.
The nonprofit corporation definition is an organization that is legally incorporated and also recognized by the IRS as tax-exempt based on business activity. The vast majority of nonprofits are classified as 501(c)3 organizations by the IRS. However, that is not the only designation for a nonprofit.
Name Your Organization. Recruit Incorporators and Initial Directors. Appoint a Registered Agent. Prepare and File Articles of Incorporation. File Initial Report. Obtain an Employer Identification Number (EIN) Store Nonprofit Records. Establish Initial Governing Documents and Policies.
Choose directors for your nonprofit. Choose a name for your nonprofit. Appoint a registered agent. File Tennessee nonprofit Articles of Incorporation. Prepare nonprofit bylaws. Hold a meeting of your board of directors.
When you form a nonprofit organization as a corporation, two documents the state requires is a charter and the bylaws. A charter explains the purpose for the nonprofit's existence and is also known as the articles of incorporation. The bylaws are the rules and regulations that the organization must abide by.