Hey folks, new to this forum! I am hoping for a simplified(dumbed down) explanation of how I should operate a non-profit I'm starting up.
Im in California and Im working on registering a non-profit that has a sole purpose of educating the general public with non biased information about our local government officials running for office and what their stances are on local issues. Along with this purpose is the intent to encourage higher voter turnouts in low income neighborhoods. So my first question is, would that qualify as tax exempt with the IRS with the proper Bylaws?
Secondly, I'm having a hard time understanding the structure of creating a Board of Directors. I understand the IRS typically likes to see 3-25 directors to grant the exemption, so currently I have myself as President, I have a secretary, and I have a treasurer. We are obviously starting off very small and without much initial income so I need to ensure tax exemption to avoid minimum tax payments at the end of the tax year. I would love some advice on how I could organize a board of directors legally and what the process would look like starting out. I'm seeing a lot of language about terms and voting..... So I can only assume within the first few weeks of registering with the state, I need bylaws and some type of meeting minutes with my board to vote me(or anyone) in as president? Please help me make sense of this!
Thank you for your time!
-Stephen
Im in California and Im working on registering a non-profit that has a sole purpose of educating the general public with non biased information about our local government officials running for office and what their stances are on local issues. Along with this purpose is the intent to encourage higher voter turnouts in low income neighborhoods. So my first question is, would that qualify as tax exempt with the IRS with the proper Bylaws?
Secondly, I'm having a hard time understanding the structure of creating a Board of Directors. I understand the IRS typically likes to see 3-25 directors to grant the exemption, so currently I have myself as President, I have a secretary, and I have a treasurer. We are obviously starting off very small and without much initial income so I need to ensure tax exemption to avoid minimum tax payments at the end of the tax year. I would love some advice on how I could organize a board of directors legally and what the process would look like starting out. I'm seeing a lot of language about terms and voting..... So I can only assume within the first few weeks of registering with the state, I need bylaws and some type of meeting minutes with my board to vote me(or anyone) in as president? Please help me make sense of this!
Thank you for your time!
-Stephen