As with starting a business in Florida, if you’re thinking about forming a non-profit, it pays to conduct plenty of research before doing so; that way you can be sure of exactly what will be required of you, and what steps you need to take to get it registered. You should also start thinking about a mission statement, to help keep your ideas and your non-profit, on track.
Working with an entity management firm can certainly help you, and with their professional guidance, you can register your non-profit seamlessly. If you’re planning to go it alone, however, the following brief guide may be of assistance:
Qualifying for tax exemptions at state of federal level
Charitable, educational, religious, scientific and veterans organizations are all examples of non-profit types recognized within the state of Florida, and it’s important to note that none qualify automatically for tax exemptions at either state or federal level. 501(c)(3) corporations are tax-exempt federally, however, and to achieve this status, Form 10233 must be filed with the IRS.
Mandatory forms and requirements for forming a non-profit
Firstly, you must select an appropriate name for your non-profit and check its availability.
Secondly, you’ll need to recruit or appoint your directors, and you should aim to have at least 3 who are 18 or older.
Thirdly, you must incorporate your non-profit by filing an Article of Incorporation with Florida Secretary of State, Division of Corporations.
Then, after designating a registered agent, you must file an annual report with the Florida Division of Corporations a year after incorporating.
Next, you should create a set of bylaws, hold an organizational meeting, create corporate records in a record book and obtain an employer identification number.
Lastly, you’ll need to regsietr with the IRS and the state of Florida when you take on employees, register with Florida’s Division of Consumer Services if you’re receiving contributions from the public, register with Florida’s Department of Revenue to handle your business taxes, and apply for tax-exempt status with the IRS and the Florida Department of Revenue.
Don’t forget that an entity management company can help you with all of the above, and get your non-profit up and running as quickly as possible.
Holding on to your status as a non-profit
Once you’ve secured your non-profit status as tax-exempt, you’ll need to take further action to both protect, and retain it:
- File Articles of Incorporation with Florida’s Secretary of State Division of Corporations
- File an annual report within a year of incorporating your non-profit, then again between the 1st of January and 1st of May every following year.
What does it cost to form a non-profit in Florida?
To file a non-profit Article of Incorporation, you’ll be charged a fee of $35, and the cost of filing a registered agent designation is the same. If your organizations annual revenues are less than $10,000, you’ll be charged a fee of $400 by the IRS; if they are higher, the fee is $850.
Forming a non-profit doesn’t have to be stressful and time consuming; seek help from an experienced entity management firm and achieve your tax-exempt non-profit status within a matter of weeks.