How to Start a Nonprofit Corporation in VA
A nonprofit organization is one that does not dole out profits to shareholders or owners, but instead uses the funds to pursue the organization's goals. The Internal Revenue Service (IRS) gives these organizations the 501(c)(3) tax-exempt status. In the state of Virginia, limited liability corporations (LLCs) and corporations are the only business structures that are granted nonprofit status. Starting a nonprofit corporation in Virginia is not difficult. In fact, you can start your Virginia nonprofit corporation on your own.
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Things You'll Need
- Articles of Incorporation - Virginia Non-Stock Corporation Form
- Employer Identification Number (EIN)
- IRS Form 1023
Instructions
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Download the "Articles of Incorporation - Virginia Non-Stock Corporation Form" from the Virginia State Corporation Commission website (see Resources). Submit the completed form and the filing fee to Clerk of the State Corporation Commission, P. O. Box 1197, Richmond, Virginia 23218-1197. As of March 2010, the fee is $75.
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Visit the IRS website (see Resources) to apply for an EIN for your nonprofit company. You can apply on line, and there is no fee to get an EIN. This is also called a Federal Tax Identification Number.
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Obtain Form 1023 from the IRS website (see Resources). Complete this form and submit it to the IRS to apply for your federal 501(c)(3) nonprofit status.
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Apply for nonprofit status in Virginia on the VATAX Nonprofit Online website (see Resources).
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Register as a charitable organization with the Virginia Department of Agriculture and Consumer Services by getting the registration packet from the department website (see Resources). This will allow you to accept donations.
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