Nonprofit Purpose With Example

State:
Multi-State
Control #:
US-0587-WG
Format:
Word; 
Rich Text
Instant download

Description

The document outlines the Restatement of Purpose for a nonprofit corporation, emphasizing its operations solely for charitable, religious, and educational purposes as defined under Section 501(c)(3) of the Internal Revenue Code. An example of a nonprofit purpose might include funding education initiatives or supporting community outreach programs. Key features include restrictions against profit distribution to individuals and prohibitions on political campaigning. Additionally, upon dissolution, assets must be allocated to similar exempt organizations or managed by the chancery court. Filling and editing instructions involve ensuring compliance with legal standards related to nonprofit formation and function. This form is particularly useful for attorneys, partners, and legal assistants involved in establishing or managing nonprofit organizations. It helps ensure adherence to legal requirements, thereby safeguarding the agency's tax-exempt status while also guiding paralegals and associates in drafting compliant articles of incorporation.
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  • Preview Bylaw Provision For Obtaining Federal Nonprofit Status Article Restatement of Purpose
  • Preview Bylaw Provision For Obtaining Federal Nonprofit Status Article Restatement of Purpose

How to fill out Bylaw Provision For Obtaining Federal Nonprofit Status Article Restatement Of Purpose?

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FAQ

The purpose statement should generally be fifty words or less, allowing it to be specific, memorable, and easy to share with others. It should be broad enough to allow for growth and program expansion, yet narrow enough to demonstrate tax-exempt qualification and to shape organizational decision-making.

A nonprofit organization is one that qualifies for tax-exempt status by the IRS because its mission and purpose are to further a social cause and provide a public benefit. Nonprofit organizations include hospitals, universities, national charities, and foundations.

Definition: Nonprofit purpose statement aka reason for being A nonprofit purpose statement or reason for being statement is an internal aligning statement intended for use by your staff, board and volunteers only.

1. Charity:water: Bringing clean and safe drinking water to people in developing countries. 2. Make a Wish America: Together, we create life-changing wishes for children with critical illnesses.

Make it concise A well-crafted mission statement should also be brief and to the point. This is often one of the hardest tasks, but try to keep your nonprofit mission statement at 5-15 words, 20 words max. Avoid words > 12 letters or 4 syllables long and don't use more than a 1-word string (A, B, and C).

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Nonprofit Purpose With Example