Wednesday 25 November 2015

Become A Not For Profit Agency In Missouri

Only certain types of businesses are eligible for a not-for-profit status with the state of Missouri and the IRS. Your business must be organized for charitable, educational, religious, or scientific purposes. Your business cannot pay members, directors, officers, or any other persons anything in excess of reasonable compensation for their services. In addition, not-for-profit businesses aren't allowed to focus a substantial part of their business on influencing legislation or promoting a particular political party. As long as you operate within these guidelines, you're eligible to become a not-for-profit agency in Missouri.


Instructions


1. Choose a name for your business. After picking a name, go to the "search for a business entity" page on the Missouri Secretary of State website and check to see if the name is available for use (see Resources).


2. Draft your mission statement. The mission statement should describe the overall purpose of your business. It can range anywhere from a couple of sentences to a few pages, but it's recommended that you keep it under a quarter of a page.


3. Recruit your initial board members. In Missouri, you must have at least three.


4. Go to the Missouri Secretary of State website and download the form "Articles of Incorporation of a Nonprofit Corporation" (see Resources). Type your information into the form and click to print it. Then mail the form along with the required filing fee to the address given. As of 2010, the filing fee is $25.00.


5. Go to the IRS website and fill out the form to get an Employer Identification Number, otherwise known as an EIN (see Resources). After submitting the form, the EIN will be given to you instantly. Print a copy for your records.

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