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Note: as explained below, nonprofit status is maintained by complying with laws and regulations that govern nonprofits, not by merely including a description of the organization’s purpose in its name. Regardless if using “NFP” is required, many nonprofits include in their legal name the word “nonprofit” or “NFP,” to provide public awareness of their nonprofit status. The name must end with “NFP” if the name suggests it is not organized for a nonprofit purpose.
Articles of incorporation illinois template registration#
This will avoid possible loss of profits and other liability under trademark or entity registration laws.
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For those who do incorporate, the articles of incorporation need to include:Įntity Name: To prepare your new organization's articles of incorporation, you will need to select a name which is distinguishable from any other corporation registered with the Secretary of State, and ideally from any other organization title on Google or in federal and state trademark records. This law allows religious, charitable, private foundation, and most other tax exempt or nonexempt organizational purposes to be pursued in nonprofit form, at very low cost ($50 for filing of articles of incorporation, and only $15 for annual reports.) Entity organization also avoids unlimited personal liability for all officers and members of unincorporated nonprofit associations, which is what people are if they conduct nonprofit business activities together and do not incorporate. Illinois has several old nonprofit and religious organization laws, but most entities find the General Not For Profit Corporations Act easier to use, more comprehensive in governance, clearer in defining agency and management authority, and easier to use statewide than entities registered only in specific counties. If the entity seeks and obtains proper government approvals, the entity may be exempt from federal and state income taxation, and may be exempt from property and sales tax liability, as well. Rather, they are run by boards, trustees, or members for one or more of the purposes allowed under state not for profit laws. The common characteristic of all is that none of these entities have owners. These entities range from hospital systems with over 1,000 employees to high school robotics teams with volunteer staff and limited budgets. As of 2016, there were 22,743 nonprofit organizations in Illinois.