Want to Form a Non Profit? What are the Rules?

Let our Skokie Business Lawyers Help

Serving Business Clients in Skokie, Chicago, Naperville, Joliet, Aurora, Wheaton, Waukegan

Forming a not-for-profit is probably the most complicated type of start-up there is. First, the business must satisfy the Illinois Not-for-Profit Corporations Act; then it must satisfy the IRS requirements for 501(c)(3) status, and then the owners need to find a way to pay themselves without jeopardizing that status. Not-for-profits must have at least three board members, so automatically there is a need for everyone to protect their rights, and IRS requirements mean the company must have a Conflict of Interest policy and other specific guidelines in place to maintain its tax-free status.

Schneider & Stone can make this whole process run more smoothly. Whether your not-for-profit is a religious institution, a hospice, or a school, our Skokie business attorneys can help you get the necessary forms in place to start your new project.

Give our Skokie business lawyers a call for help with:

  • Forming a Not-for-Profit Entity

  • Bylaws and Policy Forms

  • 501(c)(3) filings

  • Employment

 

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