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Florida Library Association & Stetson University College of Law Dolly & Homer Hand Law Library. Non-Profit Basics. What is Non-Profit?. Mission driven – not profit driven Unincorporated non-profit association Non-profit corporation or foundation Mission to serve the public

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florida library association stetson university college of law dolly homer hand law library
Florida Library Association

&

Stetson University College of Law

Dolly & Homer Hand Law Library

Non-Profit Basics

Professor Rebecca S. Trammell

what is non profit
What is Non-Profit?
  • Mission driven – not profit driven
  • Unincorporated non-profit association
  • Non-profit corporation or foundation
    • Mission to serve the public
    • Incorporated in a state
      • Florida Statute – Fla. Stat. Ch. 617
what do you need to know
What Do You Need to Know?
  • What kind of organization do you have?
  • Look for documentation
    • Mission
    • Articles of Incorporation
    • Bylaws
non profit corporation
Non-Profit Corporation
  • Business focused on the public good
  • Legal entity
    • Incorporated under state law (varies by state)
    • Directors may not profit
    • Profits must stay in corporation
    • Corporate status protects against personal liability in most cases
  • Favorable tax status – Without such status
    • Profits taxed as corporate income
    • Donations are not tax deductible
non profit incorporation florida
Non-Profit Incorporation - Florida
  • Create a governing board
  • File articles of incorporation
  • Draft Bylaws
  • Obtain tax-exempt status
    • Federal
    • State
  • Additional documentation
    • Annual reports
    • IRS compliance policies
    • Corporate record keeping
in florida
In Florida
  • Consult an attorney
  • Florida Secretary of State website

http://ccfcorp.dos.state.fl.us

    • Forms Fees
    • Help
  • Forming a non-profit in Florida

http://www.citmedialaw.org/legal-guide/florida/forming-nonprofit-corporation-florida

other topics in this series
Other Topics in this Series
  • Non-Profit Basics
  • Tax Exempt Status
  • Donations & Fundraising
  • Non-Profit Board Members & Officers
  • Non-Profit Employees & Volunteers
  • Non-Profit Risk Management
  • Non-Profit Income & Records
  • Useful Non-Profit Resources
this presentation provides information not legal advice
RememberThis presentation provides information, not legal advice.

Always consult an attorney for legal advice.