Anyone seeking non-profit status for their new company must draft and submit comprehensive bylaws, which inform the IRS about the company’s goals, organization, and financial plan.
If you are considering forming a non-profit, it is important for you not to underestimate the significance of these documents – they are crucial to your chances of creating your dream company. Thankfully, Jess Birken and our team could provide further information about bylaws, explain how they control your organization’s future, take the lead to draft these documents, and submit them to the IRS on your behalf.
What Are a Non-Profit’s Bylaws?
As mentioned, bylaws are an essential part of any nonprofit organization. While they are similar to Articles of Incorporation, there are a few key differences that make them stand out.
All bylaws must contain basic details about the potential organization, including the names and contact information of all people in a position of authority, such as the Board of Directors or high-ranking officers. After this, a comprehensive set of bylaws needs to include:
• The non-profit’s name
• The company’s mission statement
• Exactly what the organization hopes to accomplish
• Financial information for the past three years (if the group has not been in existence for three years, this must include past and future predictions)
Fortunately, an attorney like Jess Birken has experience drafting Bylaws and could work hard to make sure that your new non-profit’s documentation has all the required pieces.
The Challenges Associated with Drafting Bylaws for Non-Profits
After learning about the basics of non-profit bylaws, it is also crucial to understand some of the most common challenges associated with drafting these documents. Knowing what to expect could help prevent problems in the future.
To begin, failing to transparently list all the relevant officers or members of the organization could be a potential complication. Therefore, you must be extremely careful during this stage. When a new non-profit takes the time to list every staff member in detail, they will likely avoid complications with the federal government.
Meanwhile, another challenge that often occurs when drafting bylaws is making sure that the mission statement properly outlines the non-profit’s future goals. In most cases, the IRS will not grant tax-exempt status to a new organization if the company does not seem to be interested in helping the community, performing good deeds, or serving a vulnerable group. Therefore, when you are planning for the future of your non-profit, you should work with Jess Birken and our knowledgeable law firm to make sure your mission statement and goals are effectively communicated through your bylaws.
Speak With a Dedicated Attorney About Drafting Non-Profit Bylaws
When you are starting the process of assembling your new non-profit organization, you should always remember the impact that your bylaws could have on your company’s future. If you forget to include certain aspects or make mistakes while drafting these documents, you might open your business up to legal liability or increase the risk of a problem down the road.
Thankfully, when you speak with Birken Law Office about drafting non-profit bylaws, you increase your chances of creating your ideal business. If you want someone to answer questions, assess your situation, and offer dedicated advice, reach out to our team today.
Birken Law Office – Law firm serving nonprofits organizations, and foundations – Birken Law