Frequently asked questions about becoming a 501(c)(3) foundation Why Should Our Club Become a 501(c)(3) foundation? I have recently had the pleasure of both incorporating and applying for 501(c)(3) non-profit status for a New York Lions and a New York Kiwanis Club. One club had been in existence for more than 50 years… Read More »
Posts Categorized: Not For Profit
New York Religious Corporations Law
It makes sense for religious organizations such as churches, temples, synagogues and other religious nonprofits to form corporations. Incorporating enables the religious organization to enjoy the benefits of limited liability and other attributes of corporate entities. In New York, religious corporations are controlled by both the Religious Corporations Law (RCL) and the New York Not-for-Profit… Read More »
Long Island 501(c)(3) Not-for-Profit Formation
What is a nonprofit organization? Terms: Some confusion exists because of the different names for these organizations: Not-for-profit, non-profit, nonprofit. These terms are used interchangeably in the charitable world. Are nonprofits the same as 501(c)(3) organization? While almost every 501(c)(3) organization is a nonprofit, not every nonprofit has 501(c)(3)status. A nonprofit organization such as a… Read More »