All nonprofit corporations should have bylaws in place. Even non profit organizations that are not corporations should choose to have them for several reasons, but especially because they establish guidance and clarity for the decision-makers. Bylaws contain rules that govern how the board of … [Read more...] about How to Revise Nonprofit Bylaws in Chicago
A tax-exempt number is an important identification number for certain businesses in the state of Illinois or any state for that matter. A tax-exempt number, or sales tax-exempt number, is a number issued by the State that allows approved entities or organizations to forgo the payment of sales … [Read more...] about What is a Chicago Tax Exempt Number?
Being a non-profit organization in Illinois does not automatically qualify you as tax exempt. Before beginning the process of filing for tax-exempt status, decide if you want to apply for a 501(C ) (3) and federal tax-exempt status. Certain charities, churches, schools and other organizations fall … [Read more...] about How Do I File for Tax-Exempt Status in Illinois?
Is one of your New Year’s Resolutions is to start a nonprofit organization? Maybe you have an idea, or see a need that isn’t being fulfilled in your community. The US has the most advanced system in the world for starting a nonprofit. You may be familiar with the well-known “tax-free status,” … [Read more...] about Why Hire A Glenview Nonprofit Lawyer?
Now that tax season is pretty much over (although audits may be on the rise this year), it's a good moment to reflect on how you handled things last year, and what you can do better for next year's tax season. Like many nonprofit organizations in Illinois, you may have provided advice to your donors … [Read more...] about The Do’s and Dont’s of Advising Your Donors During Tax Season