Category Archives: Nonprofit Corp

Yes, a Nonprofit Corporation may generate a profit. Non-profit does not literally mean that a Corporation cannot make a profit. A Nonprofit Corporation can acquire more income that it spends on its exempt purpose. This profit can be utilized for … Continue reading →

A Corporation is managed and run by its directors and officers. The directors are appointed by the shareholders and are responsible for the overall management and corporate governance of the corporation. The directors appoint the officers who are responsible for … Continue reading →

Once you receive the filed Articles of Incorporation, which signifies the formation of the corporation by your state, your corporation will need to hold an organizational meeting of the initial shareholders and directors. At this meeting the directors will typically … Continue reading →

The bylaws of a corporation are an internal document that contains rules for holding corporate meetings and carrying out other formalities according to state corporate laws. Bylaws are not filed with the state.

A corporation consists of all three: officers, directors and shareholders. Shareholders are the owners of the corporation and elect the directors. Directors guide and are involved in the fundamental decisions of the corporation on behalf of the shareholders. Officers are … Continue reading →

A Nonprofit Corporation is a Corporation whose principal purpose is public benefit and not for producing a profit. A Nonprofit Corporation may not distribute income to benefit its officers and/or directors. More importantly, a Nonprofit Corporation is not an ordinary … Continue reading →

You must incorporate the nonprofit organization in your particular state, which consists of filing your organization’s articles of incorporation with the state. It is important that your organizing documents contain the required language and specific clauses, such as a detailed … Continue reading →

You should choose a name that represents the purpose of your nonprofit corporation. If you incorporate through IncFile, we will request a first and second name choice for your nonprofit and complete a name availability search to assure that your … Continue reading →

You are not required to form your nonprofit in the state where it will be physically located. However, practical matters in choosing a location to incorporate should be taken into consideration, such as the state fees and the taxation laws … Continue reading →

Yes, a Nonprofit Corporation may pay a reasonable salary to its officers, directors and/or employees for services rendered to the Nonprofit Corporation and associated to its exempt purpose.