Not-For-Profit Corporation

Prior to forming a new not-for-profit corporation several key questions must be considered:

(1) Are the members and/ or officers and directors of the corporation shielded from personal liability?

(2) Does the entity have proper insurance in case of an accident or lawsuit?

(3) Are you aware of all of the laws and regulations which impact a not for profit organization including mandatory yearly filings with the New York State Attorney General’s Charities Bureau?

(4) As of the summer of 2014, new sweeping changes to New York's statutory and regulatory oversight of non-profits went into effect, are you aware of how these impact your venture?

(5) Should the organization incorporate in New York, or is another jurisdiction, more appropriate for your intended operations?

(6) Do you know what UBIT is? - HINT - its a tax on certain income that a non-profit may be required to pay.

If you have answered no to any of these questions or are unsure of the answer you should contact an attorney today to discuss these issues.

Establishing and running an effective not-for-profit corporation can seem overwhelming, each entity and its mission is different; contact me today to discuss your particular needs.