Establish a Nonprofit Organization in Ohio with Columbus Attorneys
Starting a nonprofit organization can be a very rewarding endeavor. It also comes with challenges. These entities have a unique set of rules around them, and failing to follow them could endanger your goals for serving your community. Our corporate law attorneys understand the complexities of setting up a nonprofit organization in Ohio. Turn to us for the personalized service and strategic guidance you need to successfully navigate this process.
The Basics of Forming a Nonprofit Organization
Nonprofits are entities created for purposes other than making money, such as serving the public interest or advancing a particular cause. There are many reasons why a business owner might want to establish such an organization. Forming a nonprofit in Ohio involves many steps, including:
- Planning the mission and goals of the organization
- Choosing an entity type
- Creating governing documents for the organization
- Filing the necessary paperwork
It is important to properly address each step of the process.
How Is Creating a Nonprofit Different from Forming a Business?
While the steps mentioned above might seem similar to starting a for-profit business, there are significant differences in forming a nonprofit. These include:
- Entity choices: Nonprofits have their own set of options for how they are structured, including nonprofit corporations, trusts and unincorporated associations
- Legal requirements: There are a range of federal and state regulations specifically governing nonprofits, which often necessitate careful compliance planning
- Tax exemption: Some nonprofits qualify for tax-exempt status, so applying for it can be a key measure to take when launching your nonprofit
- No profit distribution: Unlike businesses, nonprofits cannot have mechanisms for distributing profits to owners in their governing documents
Having the help of corporate law attorneys deeply knowledgeable about the nuances of nonprofit law can be critical as you navigate the unique aspects of nonprofit formation. Our team is here to give you the start-to-finish support you need.
What Are Common Complications In Nonprofit Formation?
There are a range of roadblocks that can potentially arise when trying to launch a new nonprofit, including:
- Compliance problems
- Tax exemption denials
- Disagreements between founders on the right direction for the organization
- Challenges securing donations for funding
- Possible conflicts of interest
When such challenges come up, our team can develop tailored, proactive strategies for seeking to overcome and move forward from them.
Addressing Prevalent Nonprofit Myths
There are many misconceptions out there about nonprofits, including that:
- Nonprofits cannot make a profit: While they don’t distribute profits, these organizations can generate revenue to put back into pursuing their missions
- Nonprofits never pay taxes: Not all nonprofits qualify for tax-exempt status, and some may still be subject to certain taxes
- Nonprofits are easy to start: Establishing a nonprofit involves an array of often-complex requirements
Our firm can provide the clarity you need when it comes to this often misunderstood field.
Contact Our Nonprofit Formation Attorneys Today
Let us help you pursue your goals of getting a new nonprofit off the ground. To learn more about our formation services for nonprofit organizations, call us at 614-362-0107 or reach out to us online.