Nonprofit Regulatory Compliance Attorney
Chicago Nonprofit law firm James C. Provenza & Associates, PC specializes in Illinois nonprofit regulatory compliance. Essentially, if you run or are part of a nonprofit, you can most likely enjoy the many benefits offered to charitable organizations, such as tax benefits. However, because of these benefits, the State of Illinois upholds several compliance regulations to make sure that an organization is conducting charitable activities according to Illinois law.
To make sure that your nonprofit continually operates within Illinois regulations, it is essential to have a nonprofit regulatory compliance attorney experienced in charitable operations, Illinois law, and tax reporting. For a free consultation with lawyer James C. Provenza, you can call our Glenview IL law firm today at (847) 729-3939.
Registration and Renewal Requirements
Properly registering and renewing a nonprofit with the Illinois Attorney General and Secretary of State is one of the most important activities for any Illinois profit. Everything from the nonprofit’s bylaws to its articles of incorporation should be filed, and, in general, it is best to explicitly inform the state of the nonprofit’s activities, how it plans to raise funds and use the funds, and so forth.
Due to the massive amount of Illinois state and Federal laws, including tax laws, it is essential to be diligently organized and ensure that the nonprofit meets all registration and renewal requirements by their appropriate deadlines. Nonprofit lawyer James Provenza will assist you with the initial registration steps as well as continual renewal requirements. A few federal filing requirements we can help you with include:
- Articles of Incorporation
- Form 1023 – Application for Recognition of Exemption with IRS
- Form 990 – Annual financial report to the IRS
- Unrelated Business Income Taxes
- Extensions for Filing Deadlines
Other Important Compliance Regulations
In addition to your federal and state filings, there are many others aspects of Illinois and nonprofit law that you need to apply to your organization’s activities. Just some of these other compliance regulations may include:
- Documenting donations (including cash and quid pro quo donations)
- Federal and Illinois tax filings
- Maintaining and updating corporate records
- Registrations for soliciting donations
- Employee filing and withholding requirements
- Public disclosure requirements
- Political activity and lobbying
- Organization governing policies
- And so on…
Protect Your Nonprofit With Chicago Attorney Provenza
The Illinois Attorney General and Secretary of State have mentioned how they wish to create a better atmosphere for Illinois nonprofits and charitable organizations. However, with the many Illinois nonprofit compliance regulations, it can be intimidating for an individual who wants to set-up a nonprofit.
Fortunately, Chicago nonprofit law firm James C. Provenza & Associates, PC has worked with many nonprofits in the greater Chicago area, helping them register the nonprofit, establish lawful donation soliciting practices, and obtaining the much-needed tax exemptions.