This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Nonprofit Bylaws Template For 501c3 In North Carolina
Instant download
Description
Free preview
Form popularity
FAQ
North Carolina nonprofit corporations are required to register with the North Carolina Secretary of State. To maintain their registration, nonprofit corporations must comply with all state licensing and reporting requirements, including, for many nonprofit organizations, maintaining a charitable solicitation license.
Consider creating a project or program within another organization rather than spending your time and energy establishing a new organization. Board of Directors. North Carolina law requires only one board member, but best practices recommend that you have at least five; a minimum of seven is preferable.
A nonprofit can also choose to be organized as a limited liability company (LLC), an unincorporated association, or a trust. An LLC, like a corporation, is a separate legal entity that must file organizational documents with the North Carolina Secretary of State.
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.
Ing to a study by Bain Capital Private Equity, the optimal number of directors for boards to make a decision is seven. Every added board member after that decreases decision-making by 10%. Nonprofits can use that as a starting metric before considering the organization's life cycle, mission and fundraising needs.
Follow these steps to form a 501(c)(3) nonprofit corporation in North Carolina. Choose directors for your nonprofit. Choose a name for your nonprofit. Appoint a registered agent. File North Carolina nonprofit Articles of Organization. Prepare nonprofit bylaws. Hold a meeting of your board of directors.
Nonprofits with annual gross receipts of more than $50,000 or with an average of more than $50,000 over the past three years must file a 990 or 990-EZ. File the form each year by the 15th day of the 5th month after your fiscal year ends (e.g., Nov.