How is a 501 (c) Corporation formed?
As noted in the Services section, we manage every aspect of the clients Foundation, including formation, management, fund-raising and charitable giving. This begins with the formation of a 501 (c) non-profit corporation. Steps taken to achieve 501 (c) non-profit status include the following: incorporation must be completed and an application submitted to the IRS in order to be given 501 (c) status. Once the IRS authorizes this status, it is necessary to comply with all the ongoing requirements such as holding timely meetings of the Board of Directors and recording these meetings with complete and accurate minutes. In addition, all corporate finances must be closely reviewed to assure compliance with all 501 (c) regulations as listed in the IRS code.
