Is your nonprofit organization a Public Charity or Private Foundation? Every nonprofit organization that qualifies for the 501(c)(3) exemption is either a public charity or private foundation. FOLLOW THE MONEY: Where does your financial support come from? For many nonprofit organizations, the main sources of financial support determine whether the organization will be classified as
Annual Reporting Requirements for Arkansas Nonprofits By August 1st of each year, your nonprofit organization must make an annual disclosure to the Arkansas Secretary of State with the following information: The name of your nonprofit corporation; Your nonprofit corporation’s place of incorporation (ie: Arkansas); The name and address of your nonprofit’s registered agent for service
Charitable, Educational, or Religious? The most common types of 501(c)(3) exempt nonprofit organizations are charitable, educational, and religious. Learn more about these classifications to determine which type applies to your nonprofit organization. CHARITABLE: Charitable organizations conduct activities that promote the following: Relief of the poor, distressed, or underprivileged; Advancement of religion; Advancement of education or
Forming a Corporation for Your Business or Nonprofit WHAT IS A CORPORATION?: A corporation is one of the more complex forms of business organization. Your corporation will be a legal entity, existing apart from its owners or shareholders. As a separate entity, your corporation will have its own rights, privileges and liabilities apart from the shareholders,