The formation, operation, and closure of non-profit, not-for-profit, and charity organizations is an area with many tax and legal hurdles. These non-profit organizations are commonly called 501(c)(3) organizations after the Internal Revenue Code section that describes them. An improperly formed or maintained 501(c)(3) can lose its tax exemption which can have serious consequences for the board and officers of the organization. Further, organizations need assistance in the management of charitable contributions, foundations, funds, filings, and expenditures.
During the initial formation phase of your non-profit organization, the attorneys at Prentice|Long, PC can assist you in properly drafting and filing all of the documents associated with establishment. We will offer assistance in drafting your articles of incorporation and bylaws, creating compliance policies, the trademarking of logos and names, and most importantly, correctly drafting and filing your application for 501(c) tax-exempt status.
There are many issues that may arise during the operation of your non-profit organization, and we’re here to guide you through them. During normal operations Prentice|Long, PC can assist you with compliance audits and training, counsel regarding charitable fundraising and planned giving, internal conflicts and legal matters, tax audits and taxing authority issues, and civil litigation.
At some point, your charitable organization may need to cease operations. During this critical phase, it is vital that the required procedures are fully followed. Prentice|Long attorneys will advise and assist you in complying with state and federal rules regarding the closure of a non-profit operation, dispersing charitable assets, managing employment and contract issues, as well as any matters relating to existing donors. There are many essential factors to consider when closing a not-for-profit organization. We are familiar with all aspects of non-profit law, and look forward to serving you.