Non-Profit Organization Attorney in Utah
Many people donate their time, money and resources to a non-profit idea or charitable cause to help serve their communities. When your support and commitment become your passion, it’s time to look at the pros and cons for structuring a legally-recognized, non-profit entity to maximize your impact. By definition, a non-profit organization (NPO) can include religion, education, community-driven causes, research or social agendas.
You will face many obstacles during this transition – most of which will be of the unexpected kind. That is why it is important to tackle all of the foreseeable challenges, head-on. There will always be risk that comes with the opportunities for any new start-up and this is especially true during the formation of an NPO.
What are the Benefits of a Non-Profit Organization?
One of the best benefits of structuring your non-profit idea into a formal non-profit allows your supporters to make tax-free monetary donations. Non-profit corporations enjoy federal exemptions from the Internal Revenue Service (IRS) from income tax, sales tax, and property tax and qualify for reduced postage rates. You will also be able to take advantage of private and public grants.
Forming a Tax-Exempt Organization in Utah
Forming a legally-recognized, tax-exempt organization in the Beehive State is a complex process. Your charitable cause must meet all of the s501(c)(3) bylaw requirements to receive tax-deductible contributions from donors and tax-exempt status with the IRS. Building a solid foundation for an NPO includes understanding and complying with regulatory guidelines from applicable local, state and federal entities. A newly formed NPO in Utah will also need to consider the following:
All NPOs ‘best practices’ include defined ethical standards and transparent practices that hold every affiliate and board member accountable to the community and non-profit they serve. Additional ‘best practices’ include:
- Financial Transparency
- Nonpartisan Activities
- Demonstrating Effectiveness
- Reasonable Compensation
- Avoiding Conflicts of Interest
A well run and effective NPO has established and participatory trustees or board members that follow ethical and legal governance. The purpose of a board is to provide insight, oversight, and foresight. Leadership is generally appointed by the board and is expected to perform day-to-day operations with transparency and acknowledge accountability.
Important consensus-oriented financial management must be governed by the most current accounting standards set by the Financial Accounting Standards Board (FASB). Professional financial management will ensure your organization remains compliant with the ever-changing state and federal tax laws.
Your main focus should be focused on strengthening your resources with the NPO formation and finding an experienced legal advocate to show you the way. Hiring a professional non-profit organization attorney in Utah will play a key role in the success and sustainability of your organization. He or she will provide help and guidance during formation, answer questions about volunteers and donations that may have varying consequences and advise during any situation that may expose the organization to liability.
Eric Froisland with Froisland Law will work one-on-one with you to develop the most effective structure for your exempt organization with accountability and openness to secure and build public trust. Eric is a skilled legal advocate who will ensure your NPO is arranged to maximize revenue, fundraising, donations, and exemptions.
Boost Your Charitable Organization to an NPO
Only a state-recognized NPO business structure can protect the goodwill of your organization and shield you and other contributors from liability. Build your NPO’s future with confidence with the help of a skilled non-profit business organization lawyer in Utah. Contact Eric today at 801.290.2130 because GOOD PEOPLE need a GOOD LAWYER.
Let our experience be your guide