Naming a non profit organization

Once it has been decided to start a non profit organization , the members need to decide and reserve a name for the non profit organization. A good name should be indicative of the activities proposed to be undertaken by the organization. It should also be easy to understand and must have a high recall […]

Exceptions to the limited liability clause

One of the most important benefit of Incorporation is that, its protects the individual members from being held personally liable for the the liabilities of the corporation. However in a few situations, Individuals involved with an incorporated nonprofit organization may be held personally liable for the liabilities of the organization. It is therefore imperative for […]

Glossary of Non profit Jargons

501 (c) (3) – A section of IRS under which it identifies different kinds of organizations eligible for tax exemption of various kinds. Annual report – A report published annually (or periodically) containing a description of activities undertaken by the organization during the reporting period. It also includes a general overview of the organization with respect […]

Incorporation of Non Profit Organization

Introduction to Incorporation – Incorporation of a non profit organization is a vast subject and needs a comprehensive treatment. ‘To’ or ‘Not-to’ Incorporate ? While making this choice , We would recommend an organization to incorporate if – a) The expected annual budget for the organization in years to come exceeds USD20000. (Just a thumbrule) […]

Types of Nonprofit Organizations

There are many types of nonprofit organization and they have been classified into different categories as per Section 501 of the IRS rules. We will first discuss charitable organizations that fall into the category of Section 501 (c)(3) of the IRS rules, as they are the most common kind of nonprofit organizations in the country. […]