Январь 25, 2019

New Nonprofit Corporation

California Attorney General gives a warning, »It is important to ensure your organization has satisfied and continues to satisfy all filing, registration, permit, and licensing requirements.  These filing requirements are not optional; they are legal requirements mandated by law.  The failure to abide by these requirements may lead to the assessment of late fees and penalties, the loss of tax-exempt status, and the forfeiture of corporate status.  Avoidable penalties generally constitute waste of charitable assets and damage to the charity.  Also, a director who has committed a breach of fiduciary duty or breach of trust by allowing avoidable penalties may be liable for any damage to the charity.» (California Department of Justice, Attorney General’s Guide for Charities)

 

1. Form a nonprofit corporation structure and purpose ($100)

  • Charitable and Public Benefit
  • Educational
  • Religious and Ministry
  • Religious and Church, Synagogue, Mosque or other

2. Craft a purpose statement that explains the goals and functionality of your organization ($100)

  • Charitable purpose
  • Religious purpose
  • Specific purpose of the corporation (mission statement)

3. Acquire a premium domain name ($2,750)

  • The estimated value of each domain name is based on millions of previous domain name sales
  • Premium domain names are brandable, easy to remember, rare, short, pronounceable, and have high resale value
  • .COM premium domain names have the best resale value compared to other extensions and are preferred by most businesses, with reseller prices ranging from $2,600 — $3,200+

4. Hire inc.group, a California Registered Corporate Agent, to handle corporate legal documents ($200)

  • Registered with the California Secretary of State
  • Responsible for accepting legal corporate documents

5. Draft the «Articles of Incorporation» ($50)

  • Assign corporate name
  • Provide business address (headquarters)
  • Provide Service of Process (Registered Corporate Agent)
  • Provide purpose statement

6. File the «Articles of Incorporation» ($30)

  • Date of formation (date of registration)
  • Corporate number (entity number)
  • Filing fee paid to the Secretary of State

7. Acquire a certification of the «Articles of Incorporation» ($5)

  • Certification fee paid to the Secretary of State

8. Request 24-hour filing service for the «Articles of Incorporation» ($350)

  • 24-hour filing fee paid to the Secretary of State

9. Acquire «Employer Identification Number (EIN)» ($50)

  • Also known as «Federal ID»
  • Registered with the Internal Revenue Service (IRS)

10. Draft the «Corporate Bylaws» ($150)

  • Name a corporate office (headquarters)
  • Document rights and duties of directors and officers
  • Govern the internal management of the corporation

11. Complete the «Conflict of Interest Policy» ($50)

  • Regulate internal conflicts of interests of directors, officers and founders

12. Complete the «Conflict of Interest Statement and Attachment» ($50)

  • Provide «Conflict of Interest Statement»
  • Finalize with signatures of directors and officers

13. Complete «Notice of Organizational Meeting» ($50)

  • State resolutions of the corporation
  • State organizational documents of the corporation
  • Request all directors to personally attend this meeting

14. Hold the «Organizational Meeting» ($300)

  • Conduct the meeting by WhatsApp, Viber or Skype
  • Approve the governing documents
  • Adopt corporate resolutions
  • Adopt corporate bylaws
  • Elect board members and officers
  • Adopt a conflict of interest policy
  • Establish a bank account

15. Complete the «Statement of Information» ($50)

  • Provide corporate name
  • Provide California principal office address (headquarters)
  • Name officers of the corporation (CEO, Secretary, and CFO)
  • Provide Service of Process (Registered Corporate Agent)

16. File the «Statement of Information» ($20)

  • Filing fee paid to the Secretary of State

17. Complete documents for Federal 501(c)3 tax exemption ($50)

  • Complete form 1023-EZ for 501(c)(3) tax exemption from the Internal Revenue Service (IRS)

18. File for Federal 501(c)3 tax-exempt status ($275)

  • Filing fee paid to the Internal Revenue Service (IRS)
  • Correspond with the Internal Revenue Service (IRS) tax authority — if required
  • Receive «Determination Letter» of 501(c)(3) tax exempt status from the Internal Revenue Service (IRS)

19. Complete documents for California tax exemption ($50)

  • Complete form 3500A for California tax exemption from the Franchise Tax Board (FTB)

20. File for California tax-exempt status ($0)

  • There is no filing fee
  • Correspond with the California Franchise Tax Board (FTB) tax authority — if required
  • Receive «Exempt Acknowledgement Letter» of California tax-exempt status from the Franchise Tax Board (FTB)

21. Complete documents for the Attorney General’s Registry of Charitable Trusts registration ($50)

  • Complete form CT-1 for the Registry of Charitable Trusts

22. File for the Attorney General’s Registry of Charitable Trusts registration ($25)

  • Filing fee paid to the California Attorney General
  • Correspond with the California Attorney General — if required
  • Receive «Confirmation of Registration with the Attorney General’s registry of Charitable Trusts» from the California Attorney General

23. Complete «Notice of a Joint Special Board Meeting» ($50)

  • Make urgent case concerning financial reporting
  • Request all directors to personally attend this meeting

24. Request a certification of the «Joint Special Board Meeting» ($50)

  • Verify identity documents of the signers
  • Notarize documents by a notary

25. Complete an Apostille of the Joint Special Board Meeting ($20)

  • Authenticate by the Secretary of State
  • An Apostille authentication is used outside of the United States of America

26. Hold a «Joint Special Board Meeting» ($300)

  • Approve the governing documents
  • Adopt important financial corporate resolutions
  • Approve the Board of Directors and Officers

 

Total $5,175

Now $2,400

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