Are you looking to establish a non-profit organization in Louisiana? This guide will provide you with all the information you need to get your non-profit up and running. The first step is to come up with a name that reflects the mission and purpose of your non-profit. Once you have a name, you'll need to prepare and submit the Articles of Incorporation to the Mortgage Registrar. This document will include details about the organization's purpose, its directors, and its members.
Next, you'll need to obtain an Employer Identification Number (EIN) from the IRS. This is a nine-digit number that identifies your organization for tax purposes. You can apply for an EIN online by completing and submitting IRS Form SS-4.Once your organization is established, it will be regulated by Section 501(c)(3) of the Internal Revenue Code. This section provides tax exemptions for non-profit organizations.
To receive this exemption, you must submit Form 1023 to the IRS. This form applies to charities and foundations. If your organization is small, you can use Form 1023-EZ, which is a simpler and quicker application process. Being tax-exempt means that your organization is recognized by the IRS and can exclude certain income from taxes.
It also means that donations made to your organization are tax-deductible for donors, and that your organization can receive discounted postal rates and exemption from federal income tax. When deciding where to locate your non-profit, consider cities like New Orleans, Baton Rouge, Shreveport, Lafayette, or Monroe. These cities are home to many non-profits and offer plenty of opportunities for growth. It's important to differentiate your organization from others in order to stand out in the community.
To do this, you'll need to create a mission statement that outlines the goals of your organization and how it plans to achieve them. You'll also need to submit an annual corporate report to the state in order to stay up-to-date with regulations. All non-profits must elect three people to serve as directors. If you don't have enough staff members yet, don't worry - 3,028 of Louisiana's non-profits have fewer than 10 employees! In addition, it's important for all non-profits to have a conflict of interest policy in place. This policy ensures that decisions made by those in power are not made in ways that harm the organization or benefit an individual. The amount of paperwork required for your non-profit will depend on its size and annual gross revenue.
Be sure to obtain all necessary licenses and permits before operating legally in Louisiana. Finally, create statutes for your organization that outline rules and strategies for holding meetings and electing directors and officers, as well as other business procedures required by the non-profit.