This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Property Owners Association Bylaws For Nonprofit Organizations In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00444
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
There must be at least three directors. They do not have to be Illinois residents or corporation members, but you may require these and any other qualifications you choose.
If you live in the U.S., you'll need to: Incorporate your nonprofit. Obtain an Employer Identification Number (EIN) Apply for tax-exempt status. Register with your state to collect donations. File Form 990 on an annual basis to maintain your tax-exempt status.
The IRS generally requires a minimum of three board members for every nonprofit, but does not dictate board term length. What is important to remember is that board service terms aren't intended to be perpetual, and are typically one to five years.
The Big Picture Follow the steps below to start a nonprofit organization in Illinois. Pick a name. The name must be unique. Appoint a registered agent. Choose your board of directors. State your charitable purpose. File your articles of incorporation. Create bylaws.
The IRS generally requires a minimum of three board members for every nonprofit, but does not dictate board term length. What is important to remember is that board service terms aren't intended to be perpetual, and are typically one to five years.
An effective board size should be small enough to make decisions quickly while also allowing for sufficient diversity of opinion and experience. Generally, a board of three to five members is ideal. Too many members can make decision-making difficult, and too few may not provide the necessary insight and expertise.
There must be at least three directors. They do not have to be Illinois residents or corporation members, but you may require these and any other qualifications you choose.