New nonprofits should seek the advice of tax professionals who are likely to know what forms are necessary and what further actions may need to be taken. Tax attorneys can give helpful suggestions for successful filing.
Filing fees typically run around a few hundred dollars. While this may seem to be exorbitant for an initial processing fee, the future savings in state taxes alone might equal this amount in very little time. The office of each state’s Secretary of State is likely to have further information on filing and fees, and most states have fee schedules online.
Once the incorporation process is finished, the NPO no longer belongs to the founder. Rather, it is a public group that exists for the public, by the board of directors, and with the approval of various regulatory groups. A president may retain executive powers, but the organization, in essence, belongs to the community.
