Much like a for-profit corporation, a nonprofit corporation will also have a board of directors as a matter of course when starting. The board is the governing body of the nonprofit that is responsible for managing and running the organization’s activities. These members are generally not employees … [Read more...]
What is a Tax Exemption Certificate in Chicago, IL?
You have an idea, and you’re ready to start your new nonprofit organization in Chicago. You need more than an idea, of course, and there are a lot of plans to make. What will you call it? Who will you be working with, and who will be working for you? What will be in your articles of incorporation … [Read more...]
What Does a Chicago Business Lawyer Do?
There are laws governing Chicago businesses including state, local and federal laws. Compliance with the different laws is important for businesses of all sizes. Besides the basic legalities, disputes and litigations may arise. These require legal expertise to help avoid serious consequences. A … [Read more...]
Want To Change Your Business Structure? Know These Things First
Starting a nonprofit isn’t something you just do one day—it’s a complex administrative process that allows you to begin operating and fulfilling your mission. Every nonprofit is different, and any changes will have to be made carefully and with counsel to make sure the organization is compliant with … [Read more...]
What are Some Examples of Unrelated Business Income?
Many people assume that all non-profit organizations operate in a federal tax-free environment. After all, that is the entire point of section 501(c)(3) of the Internal Revenue Code. But, it isn’t always the case that all money made by non-profits is tax-free; so that they can raise additional … [Read more...]