503c Nonprofit Mutual Benefit Corporation

12 KEY STEPS FOR FORMING A NONPROFIT PUBLIC BENEFIT CORPORATION EXEMPT UNDER IRC 501(c)(3) AS A PUBLIC CHARITY

1. Define the mission and develop the organizational plan.

- Basics of Developing Mission, Vision and Values Statements by Carter

McNamara: http://www.managementhelp.org/plan_dec/str_plan/stmnts.htm

2. Recruit and educate a qualified board.

- BoardSource: http://www.boardsource.org/ Select from Q&As Recruitment and Orientation and Roles and Responsibilities

- Four Cool Ideas for Recruiting New Board Members, Board Caf:

3. Refine the mission and the plan.

- What Should Our Mission Statement Say?

4. Draft and file the Articles of Incorporation.

- Organization of California Nonprofit, Nonstock Corporations, Your States Secretary of State:

5. Apply and obtain an Employer Identification Number.

- IRS Form SS-4: http://www.irs.gov/pub/irs-pdf/fss4.pdf

- Instructions for Form SS-4: http://www.irs.gov/pub/irs-pdf/iss4.pdf

6. Draft the Bylaws.

- Establishing a Nonprofit Organization, Establish bylaws and board policies, Foundation Center:

7. Draft the Conflict of Interest Policy*

* While not formally required, adopting a conflict of interest policy is a strongly recommended best practice.

- See Instructions for Form 1023, Appendix A

8. Hold the first meeting of the board ? elect the officers, adopt the bylaws and conflict of interest policy, establish the tax year, and take other appropriate board actions. - What Takes Place at Our First Board Meeting

9. Register with the Your States Attorney Generals Registry of Charitable Trusts.

- Initial Registration Checklist: (CA example)

- Office of the Attorney General

10. Prepare and file IRS Form 1023.

- IRS Form 1023: http://www.irs.gov/pub/irs-pdf/f1023.pdf - Instructions for Form 1023: http://www.irs.gov/pub/irs-pdf/i1023.pdf - Blazek, Jody. IRS Form 1023 Tax Preparation Guide. John Wiley & Sons, 2005.

11. Prepare and file FTB Form 3500.

- FTB Form 3500 & Instructions (2005):

12. File the Statement of Information with the Secretary of State.

- Statement of Information (Domestic Nonprofit Corporation), Form SI-100 & Instructions:

The author does not intend the resources referenced herein to be referrals or endorsements.

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