Who Regulates Nonprofits?
Nonprofit organizations operate under regulations set by the state and federal government, but essentially under mandates by the United States Internal Revenue Service (IRS), which provides the general nonprofit guidelines. These guidelines require certain disclosure and reporting requirements in regard to the nonprofit’s activities and funding. On a state level, nonprofits are registered with each state’s Office of Business and Economic Growth via the nonprofit organization’s Articles of Incorporation. Most states also require that a nonprofit register annually for a license to solicit charitable contributions. Application Procedures The application procedure for a nonprofit is time-consuming. Setting up a new nonprofit requires a wealth of pre-planning and board of directors development prior to application. Potential nonprofits must first apply on the state level by filing Articles of Incorporation and registering to solicit charitable donations. There are generally nominal fees req
