SocialGeeks has incorporated in the state of Idaho as a non-profit coporation. Thanks to Boise Library's Free Resource Thursday and the professionals and mentors available, we were able to quickly put together our Articles of Incorporation in a manner that will facilitate processing our 1023 form with the IRS. The 1023 will allow SocialGeeks to become a recognized 501(c)3 non-profit organization.
There are two articles in the sample Articles provided by the Idaho secretary of state that need extra attention if you plan on filing your IRS 1023 to obtain tax exempt status: Article 2 "The purpose for which the corporation is organized is:" and Article 8 "Upon dissolution the assets shall be distributed:".
- "purpose for which the corporation is organized" - To obtain 501(c)3 status the corporation must be organized for one more of these reasons; educations, scientific, charitable or religious.
SocialGeeks is organized to enrich the lives of Idaho's residents by: providing education and enabling and encouraging critical thinking within, but not limited to the fields of technology and computers; without regard to profit; and ensuring that these activites are delivered in an affordable manner.i
* Don't get into too much detail. Save the details for your vision, mission and business plan documents.
- "dissolution of assets" - To qualify for 501(c)3 status, upon dissolution of the corporation, the assets must be given to qualifying organization(s). From the SocialGeeks Article of Incorporation: "Upon dissolution of the Corporation, the Board of Directors shall, after paying or making provision for the payment of all liabilities of the Corporation, distribute all the assets of the Corporation consistent with the purposes of the Corporation to such organization or organizations as whall at that time qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code, as amended from time to time, in such manner as the Board of Directors shall determine."
* Don't be broad and leave yourself more options.
This is what was needed for the state of Idaho, your state may be different. A good place to find some of this boiler plate is at your Secretary of State's website. Look for the Business Entity Search and find the Articles of Incorporation for a non-profit in your state.