West Virginia Nonprofit - Conduct Policies for Board Members

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Description

Under wellestablished principles of nonprofit corporation law, a board member must meet certain standards of conduct and attention in carrying out his or her responsibilities to the organization. Several states, in fact, have statutes adopting some variation of these duties that would be used in court to determine whether a board member acted improperly. These standards are usually described as the duty of care, the duty of loyalty, and the duty of obedience.

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FAQ

When forming a nonprofit corporation, you'll have to: Choose a nonprofit name. Set up a board of directors. File incorporation documents. Create bylaws and operating rules. Get an employer identification number (EIN) Obtain any licenses.

This section of the Act is commonly referred to as the ?trinkets statute? and provides that public officials, their agents or anyone on public payroll may not place the official's name or likeness on trinkets and other places paid for with public funds in violation of the section's limitations and prohibitions.

Costs of starting a new nonprofit in West Virginia Filing Articles of Incorporation: $25. 501(c) or Federal tax exemption application: $275 or $600 IRS fee.

How To Start A Nonprofit In West Virginia Choose your WV nonprofit filing option. File the WV nonprofit articles of incorporation. Get a Federal EIN from the IRS. Adopt your nonprofit's bylaws. Apply for federal and/or state tax exemptions. Apply for any required state licenses. Open a bank account for your WV nonprofit.

Directors make up the governing body of your nonprofit corporation and are stakeholders in your organization's purpose and success. You'll want to identify three, unrelated individuals to meet IRS requirements.

How to Start a Nonprofit in West Virginia 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.

8 Essential Steps to Starting a Nonprofit Organization with No Money Create a Business Plan. ... Build a Board. ... Find an Online Fundraising Tool That's Free to Start. ... Assemble Supporters and Create a Team of Passionate Volunteers. ... Hold Free Events and Online Campaigns. ... Apply for Community Grants. ... Find Fiscal Sponsors.

What it Costs to Form a West Virginia Nonprofit. West Virginia charges a $25 filing fee for non-profit Articles of Incorporation, plus $25 for the nonprofit 501(c)(3) attachment. There is a $50 fee to file the application for a Certificate of Authority to conduct business in West Virginia.

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West Virginia Nonprofit - Conduct Policies for Board Members