Legal Question in Business Law in New York
Hello,
I would like to set up a non-profit in my late friends name. The purpose of the organization is to hand out scholarships and to offer relief for caregivers of ill loved ones. I would like to know which category I should check when filling out the Certificate for Incorporation?
1 Answer from Attorneys
Thanks for your question. I am not entirely sure what you are referring to exactly. You will need to form a non-stock corporation. This corp will require three independent directors. Once that is accomplished, you then prepare the 1023 that is sent to the IRS for your federal tax exempt status and there is almost always some back and forth with the IRS before approval is granted.
This is not really a DIY type of matter and I would certainly advise that you at consult a lawyer that works in this area to get some guidance. I will link you to some general relevant info below. If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.
http://www.lanternlegal.com/not_for_profit.php
http://www.lanternlegal.com/why_form_not_for_profit.php
Kind regards,
Frank
www.LanternLegal.com
866-871-8655
DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis
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