Non Profit Registration
A Non-profit registration is the kind of registration done by non-profit organization or corporations. No part of the income of this organization is distributed to members, directors, or officers. This type of organization is created by filing a certificate of formation with the secretary of state. It may be created for any lawful purpose and such purpose must be made clear in its certificate of formation.
To start a non-profit registration, you need to do the following:
File Articles of incorporation should be filed to the Secretary of State or other appropriate state agency.
Apply for exempt status with the Internal Revenue Service (IRS)
Register with the state(s) where you plan to do fundraising activities (laws and procedures can vary in each state).
Define the mission for you organization
Be able to provide services that are not provided by any organization
Have a reliable source of revenue to finance the goals of the organization
Have adequate facilities to facilitate the smooth running of the organization
Have defined accountability framework in place
This is the type of registration that charity organizations have to do. They are required to register with the Attorney General’s Registry of Charitable Trusts within 30 days after receiving assets. Charity organization must submit Articles of Incorporation, Articles of Association or other organizing documents to register. They also have to pay annual renewable fees. The activities of charity organization centers on the interest of the public and for the common good of the people.
501(c) (3) Registration
A 501 (c)(3)registration involves the submission for approval by a non-profit organization to the Internal Revenue Service (IRS) to have a tax-exempt status. A non-profit organization which has been approved by the IRS becomes a 501 C3 organization. This kind of registration is peculiar to Charitable/Charity organizations.
Benefits of being a 501(c)(3) organization
Ability to accept contributions and donations that are tax-deductible to the donor.
Exemption from federal and/or state corporate income taxes.
Possible exemption from state sales and property taxes (varies by state).
Contact Freedom Rings for more information on registering your non profit organization, charitable organization or you 501(c)3