Non-Profit

What Is A Non-Profit?

A Non-Profit Corporation is a Corporation formed to carry out a charitable, educational, religious, literary or scientific purpose. A Non-Profit can raise funds by receiving public and private grant money and donations from individuals and companies.

Formation:

Forming a Non-Profit Corporation is much like creating a regular Corporation, except that Non-Profits have to take the extra steps of applying for tax-exempt status with the IRS and their state tax division

Advantages: 

  • Non-Profits are exempt from corporate taxation.

  • A Non-Profit is permitted to raise funds by receiving public and private grant money and donations from individuals and companies.

  • Allows for tax-deductible contributions by donors to Non-Profit Corporations.

  • Directors, officers and members have protection from personal liability for the Corporation's debts and liabilities.

  • Non-Profits can be retained and used to pay reasonable salaries.

  • Apply for 501(c) (3) status

  • Tax Exempt Status

At Laughlin Associates we help your turn your dreams into a reality. When you form a Non-Profit we make it affordable and simple to take your idea and make it a reality.

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