-"A nonprofit organization (NPO) or non-profit organization, also known as a non-business entity, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit."
An overview of the legal and regulatory requirements of non-profit organizations including tax-exemption, 501(c)(3) status, and filing requirements.
Formation and governance: Covers the process of forming a non-profit organization, including state and federal requirements, bylaws, board of directors, and legal structure.
Taxation: Focuses on the tax-exempt status of non-profits, federal and state tax laws, and the difference between tax-exempt and tax-deductible status.
Fundraising: Addresses the regulations around soliciting donations and grants, including the rules for charitable deductions and reporting requirements.
Contracts and agreements: Explains the types of contracts and agreements non-profit organizations may enter into, including employment contracts, consultant agreements, and vendor contracts.
Compliance and reporting: Discusses ongoing compliance requirements, including annual reports, tax filings, and audits.
Intellectual property: Covers the protection of intellectual property for non-profits, including trademarks, copyrights, and patents.
Employment and volunteer issues: Addresses the legal responsibilities of non-profits in relation to paid employees and volunteers, including labor laws and workplace safety.
Non-profit mergers and acquisitions: Outlines the legal requirements for mergers and acquisitions between non-profits.
Charitable giving and receiving: Examines the regulations surrounding donations to non-profits and the requirements for non-profits when receiving charitable donations or grants.
Political activity: Discusses the limits on non-profit involvement in political campaigns, lobbying, and advocacy.
Liability and risk management: Covers the ways non-profit organizations can protect themselves from liability through risk assessment, liability insurance, and waivers.
Endowments and investments: Covers the regulations surrounding non-profit endowments, investments, and the use of donated funds.
Dissolution and bankruptcy: Outlines the process for dissolving a non-profit organization and the potential legal requirements related to bankruptcy.
Ethical considerations: Addresses ethical considerations when operating a non-profit organization, including conflict of interest, transparency, and accountability.
Collaboration and partnerships: Discusses the regulations and legal requirements when partnering with other non-profits or for-profit entities on shared projects or initiatives.
Tax law: Non-profit organizations are generally tax-exempt, meaning they are not required to pay federal, state, or local taxes. To obtain tax-exempt status, non-profit organizations must follow specific IRS rules and regulations.
Employment law: Non-profit organizations are required to comply with federal and state employment laws, which cover areas such as minimum wage, overtime pay, and discrimination in the workplace.
Contract law: Non-profit organizations enter into contracts with vendors, employees, and other organizations. Contract law governs the formation, interpretation, and enforcement of these contracts.
Corporate law: Non-profit organizations are treated as corporations and must comply with state corporate law. This includes issues such as corporate governance, mergers and acquisitions, and shareholder rights.
Fundraising regulations: Non-profit organizations must follow state and federal regulations governing fundraising activities, such as soliciting donations and grants.
Intellectual property law: Non-profit organizations often hold intellectual property rights, such as trademarks and copyrights. Intellectual property law governs the use and protection of these rights.
Non-profit governance: Non-profit organizations often have a board of directors or trustees that oversee the organization's operations. Non-profit governance law covers the responsibilities and duties of these individuals.
-"...in contrary with an entity that operates as a business aiming to generate a profit for its owners."
-"An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a non-profit entity without securing tax-exempt status."
-"Nonprofit organizations are accountable to the donors, founders, volunteers, program recipients, and the public community."
-"Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to every person who has invested time, money, and faith into the organization."
-"Theoretically, for a nonprofit that seeks to finance its operations through donations, public confidence is a factor in the amount of money that a nonprofit organization is able to raise."
-"Supposedly, the more a nonprofit focuses on their mission, the more public confidence they will gain."
-"The activities a nonprofit is partaking in can help build the public's confidence in nonprofits."
-"...as well as how ethical the standards and practices are."
-"...any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties."
-"An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives."
-"...but an entity may incorporate as a nonprofit entity without securing tax-exempt status."
-"Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions."
-"Theoretically, for a nonprofit that seeks to finance its operations through donations, public confidence is a factor in the amount of money that a nonprofit organization is able to raise."
-"Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to every person who has invested time, money, and faith into the organization."
-"Nonprofit organizations are accountable to the donors, founders, volunteers, program recipients, and the public community."
-"Supposedly, the more a nonprofit focuses on their mission, the more public confidence they will gain."
-"The activities a nonprofit is partaking in can help build the public's confidence in nonprofits."
-"...as well as how ethical the standards and practices are."
-"An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives."