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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.