Are you thinking of setting up a nonprofit in the Plano, Texas area for something you are passionate about? Macy has worked in the area of nonprofits for the majority of her career and has extensive experience in forming both for-profit and nonprofit entities. In addition, she serves on the board of trustees of several nonprofit corporations.
Tax laws and regulations relating to organizations that are operated exclusively for charitable purposes are extremely complicated. A nonprofit entity that is organized under Section 501(c)(3) of the Internal Revenue Code of 1986 must include certain provisions in its formation and operating documents.
There are rules about:
•What activities may be pursued.
•Restrictions on the use of income to the organization.
•Rules about the use of funds remaining upon dissolution.
A nonprofit organization is permitted to make a profit-the profit must be used in furtherance of its exempt purposes rather than being distributed to shareholders or private individuals.
Macy would be delighted to speak with you about setting up a nonprofit corporation and applying for tax exempt status with the Internal Revenue Service. Upon receiving a favorable determination, the organization can raise funds from donors that allow the donors to take a deduction from their income before calculating the tax owed. Further, upon receiving a favorable determination from the federal government, the exemption generally extends to state law issues as well.
Let Macy discuss your ideas with you and guide you down the path to a successful mission. Contact our Plano, Texas law office today at (214) 296-2025 to schedule an appointment!
You have a cause close to your heart, and you're ready to start supporting it financially. Forming a nonprofit is the perfect way to give back to the community and support different causes. However, starting a nonprofit organization isn't easy to do on your own. Fortunately, The Humble Law Firm PLLC is here to help. Focus on developing a mission statement and hiring employees while attorney Macy A. Melton takes care of the nonprofit formation.
Attorney Melton knows what it takes to form a nonprofit organization in Plano, TX. She'll work hard to get a tax-exempt status and file all of the paperwork promptly. She'll also inform you of the policies and procedures you need to maintain in regards to fundraising and employees. Attorney Melton can also handle privacy matters that come up during nonprofit formation.
Get in touch with attorney Melton right away to learn all about nonprofit formation in Plano, TX.