South Carolina Articles of Conversion — Corporation To Nonprofit Corporation is a document used to convert a for-profit corporation into a nonprofit corporation in the state of South Carolina. This document must be filed with the Secretary of State of South Carolina in order to officially convert the corporation into a nonprofit. The Articles of Conversion must include the name of the for-profit corporation, the name of the nonprofit corporation, the address of the nonprofit corporation, the purpose(s) of the nonprofit corporation, the names and addresses of the directors of the nonprofit corporation, the name and address of the incorporated, and the date of filing. There are two types of South Carolina Articles of Conversion — Corporation To Nonprofit Corporation: a standard conversion (which is for a corporation that has not yet filed its Articles of Incorporation) and a conversion upon merger (which is for a corporation that has already filed its Articles of Incorporation).
South Carolina Articles of Conversion - Corporation To Nonprofit Corporation
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What are the Steps to Change an LLC to a Nonprofit? Resolve to convert from an LLC to a corporation by voting. Choose a name for the nonprofit organization (if you decide not to go with the LLC's name) Officially file Articles of Incorporation. Transfer the LLC's assets and liabilities to the corporation.
What are the Steps to Change an LLC to a Nonprofit? Vote to Change the LLC to a Corporation. File Articles of Incorporation. How to Transfer Assets and Debts? Create an Operating Agreement. File Form 1023 With the Internal Revenue Service. Create a Mission Statement. Apply for Recognition of Exempt Status.
To amend your South Carolina articles of incorporation, file two copies of the Articles of Amendment with the South Carolina Secretary of State, Division of Business Filings (SOS).
You can dissolve a corporation by filing Articles of Dissolution with the Secretary of State's office. For an LLC, you must file Articles of Termination. You can file these documents online or by mail. There is also a small fee requirement with the filing of the dissolution documents.
We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area. Yes, a limited liability company (LLC) can be a nonprofit. However, forming a nonprofit limited liability company can be complex, so few people choose this option.
A conversion is a filing that is made with the state of incorporation allowing a company to change from one business type to another.
Visit the Secretary of State's website at .sos.sc.gov to access the Business Entities Online filing application. You can also download the Articles of Incorporation form and submit it by mail. The fee to incorporate as a nonprofit corporation is $25.
Form CL-1 Initial Annual Report of Corporations must be submitted by both domestic and foreign corporations to the Secretary of State. LLC's filing as a corporation must submit Form CL-1 to SCDOR within 60 days of conducting business in this state.