0
What else can I help you with?
Does Massachusetts allow llc to be a nonprofit?
In Massachusetts, an LLC cannot be designated as a nonprofit entity. Nonprofit organizations must typically be structured as a corporation under state law, specifically as a nonprofit corporation. However, LLCs can be formed for certain charitable purposes and can elect to be taxed as a nonprofit under IRS regulations, but they still need to comply with the requirements for nonprofit corporations in Massachusetts. For truly nonprofit activities, it's advisable to establish a nonprofit corporation.
How do you apply for nonprofit grants'?
There are forms that must be filled out for nonprofit grants. Sites like nonprofitexpert.com show the steps and forms that must be filled out for nonprofit grants.
Are all Nonprofit Organizations reputable?
No, not all nonprofit Organizations are reputable, you must search for their history and judge on your own.
Which responsibility is greater for a corporation--the one to stockholders?
The ones to the society that facilitated the existence of corporations in the first place. The corporation must follow the laws first and the interest of the stockholders, employees, customers and business partners secondarily.
Are proxy votes legal for Washington DC nonprofit organizations?
Yes, proxy votes are generally legal for nonprofit organizations in Washington, D.C., but they must comply with the specific provisions outlined in their bylaws and the D.C. Nonprofit Corporation Act. Organizations often include rules regarding the use of proxy voting to ensure transparency and proper representation. It's important for nonprofits to clearly communicate the process and requirements for proxy voting to their members.
What is a not-for-profit corporation?
A corporation that enjoys all the rights of a corporation, but without a profit goal. Most charities, educational institutions, home owner associations and so forth, are non-profit corporations. Mcclarty- most non-profits do, and must, have a profit goal in order to sustain. It usually is not their primary goal, and many of the actions taken on their behalf are not profit oriented. A primary difference is that a non-profit may not use its profits to then "inure" (benefit) the various officers and directors. Employees are entitled to a salary, but unlike a for-profit, if profit is made it must then go back into the organization.
Can officers of a nonprofit organization receive compensation?
Yes, officers of a nonprofit organization can receive compensation, but it must be reasonable and in line with the organization's mission and goals.
When is a corporation liable for the acts of its officer?
In English law, a corporation can only act through its employees and agents so it is necessary to decide in which circumstances the law of agency or vicarious liability will apply to hold the corporation liable in tort for the frauds of its directors or senior officers. If liability for the particular tort requires a state of mind, then to be liable, the director or senior officer must have that state of mind and it must be attributed to the company.
What is a nonprofit organizations purpose?
The purpose of a non profit will be different for every non profit.
Must a corporation be represented by an attorney in an arbitration hearing in California?
A corporation must be represented by an attorney in such a hearing. In fact, the attorney must be a certified arbitrator.
How many employees does the Baby Factory online shop have?
The Baby Factory online doesn't release their employee information. Most companies do not, but they must have many employees to have such a large inventory and services.
Are nonprofit organizations liable for property taxes?
Nonprofit organizations who own property (real or personal) are responsible for property taxes unless they qualify for tax exempt status. Nonprofit organizations are not automatically assumed to have met the qualifications for tax exemption status in most states and must file information with local taxing authorities, who then determine their taxable status. Qualifying for nonprofit status under IRS section 501 (c)(3) does not automatically mean the organization qualifies for property tax exempt status in many states. In some states the nonprofit organization must own and occupy the property for which the exemption is sought (they can't use it for another purpose or lease it to others).
