Corporate Resolution Authorizing a Charitable Contribution
What this document covers
The Corporate Resolution Authorizing a Charitable Contribution is a legal document that allows a corporation to officially approve a monetary donation to a charitable organization. This resolution is necessary because, while corporations have the ability to act similarly to individuals, they must formally designate funding decisions to comply with state laws and internal governance. This form differs from general financial authorization documents by specifically focusing on charitable contributions.
Main sections of this form
- The amount of the charitable contribution, which should not exceed a specified limit.
- Identification of the decision-maker authorized to approve the contribution, such as the president of the corporation.
- The name and address of the charitable organization receiving the funds.
- The intended use of the funds, detailing any restrictions or specific purposes for the contribution.
- The deadline for delivering the contribution.
- Provisions regarding the accounting of the contribution against corporate taxable income.
When to use this form
This form is used when a corporation decides to make a charitable contribution and needs to formalize this decision through a resolution. It is typically utilized during board meetings or corporate decision-making sessions where the allocation of funds to a charitable cause is considered, particularly when tax implications are involved.
Who this form is for
This form is intended for:
- Corporation executives or board members responsible for financial decisions.
- Nonprofit organizations seeking contributions from corporations.
- Corporations looking to ensure compliance with state laws regarding charitable donations.
Steps to complete this form
- Determine the total amount the corporation wishes to contribute.
- Identify who in the corporation is authorized to make this decision.
- Enter the name and contact information of the charitable organization receiving the donation.
- Specify the intended use of the contribution and any limitations that may apply.
- Set a date by which the contribution must be delivered.
- Document any applicable tax considerations related to the contribution.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to specify the authorized decision-maker, leading to confusion about who can approve the contribution.
- Omitting the purpose of the contribution, which could cause issues with tax deductions.
- Not adhering to state-specific limits on charitable contributions relative to corporate income.
Why complete this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allows for easy adjustments to reflect organizational changes or updates in donation plans.
- Access to materials that are drafted by licensed attorneys, ensuring legal compliance.
Quick recap
- The Corporate Resolution Authorizing a Charitable Contribution formalizes a corporation's decision to donate.
- Ensure details on the contribution amount, recipient organization, and intended use are clearly documented.
- Consult state regulations to adhere to specific legal requirements related to charitable contributions.
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FAQ
Step 1: Place a Resolution Number. Step 2: Write a Title for the Resolution. Step 3: Use Formal Language. Step 4: Clearly Indicate the Voted Resolution. Step 5: Include a List of Voting Board Members. Step 6: Have the President Sign the Resolution.
Format the resolution by putting the date and resolution number at the top. Form a title of the resolution that speaks to the issue that you want to document. Use formal language in the body of the resolution, beginning each new paragraph with the word, whereas.
Some basic information a resolution should include is the name of the corporation; the date of the board meeting when the resolution was approved; and the names of the board members who attended the meeting, or a statement that all board members or a quorum were present.
Format the resolution by putting the date and resolution number at the top. Form a title of the resolution that speaks to the issue that you want to document. Use formal language in the body of the resolution, beginning each new paragraph with the word, whereas.
A corporate resolution is a written document created by the board of directors of a company detailing a binding corporate action. A corporate resolution is the legal document that provides the rules and framework as to how the board can act under various circumstances.
Once the Articles of Incorporation are filed and a Certificate of Incorporation is received from the Secretary of State the corporation should hold the organizational meetings.A corporate resolution is a written document describing the action taken by the directors of a corporation.
Furthermore, the corporate secretary or another officer of the corporation not the person given the signing authority must sign the corporate resolution certification. The resolution must also contain the exact wording of the resolution authorized by the board.
An LLC Corporate Resolution Form is a document that describes the management and decision-making processes of the LLC.A member-managed LLC means that all members of the LLC have authority to bind the company to contracts; the members all have daily oversight over all business decisions.
Write the Name of the Company. State at the top of the page, the governing body and the legal name of the organization making the corporate resolution. Add Further Legal Identification.
