How can Educationbridges receive the legal and consulting assistance it needs to become an officially registered 501(3)c non-profit corporation ? Please post any resources, links, or ideas that you thing are relevant.
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Educationbridges will be filling out as the first step toward becoming
a registered non-profit incorporation. We will be having a series of
webcast dicussions about these articles very soon. At the bottom of
this page is a list of reference links.
Educationbridges Articles of Formation
FIRST: The name of the Corporation shall be Educationbridges.
SECOND: The object for which the corporation is established
To fund, facilitate and disseminate educational technology programming- funding and/or providing project management and support services for
- funding and delivering online collaborative environments focused on education and educational technology
worldwide by:
educational projects
THIRD: The provisions for establishing membership and participation in the corporation are...:
Levels of Membership
Board of Directors
Decision making body. Initially will include 5 members.
Advisory Board
This body is made up of people and organizations that share the
educationbridges vision and who will be asked, on a frequent basis, to
assess and assist the Board of Directors. The review board for each
project will be drawn from this body.
Members
All people who wish to become involved in Educationbridges must become members? Initial membership fee is 'One hour of income.'
FOURTH: The provisions for disposition of the corporate
assets in the event of dissolution of the corporation including the
prioritization of rights of shareholders and members to corporate
assets are....
dissolution of the corporation, assets shall be distributed for one or
more exempt purposes within the meaning of Section 501(c)(3) of the
Internal Revenue Code, or the corresponding section of any future
federal tax code, or shall be distributed to the federal government, or
to a state or local government, for a public purpose. Any such assets
not so disposed of shall be disposed of by a Court of Competent
Jurisdiction of the County in which the principal office of the
corporation is then located, exclusively for such purposes or to such
organization or organizations as said Court shall determine, which are
organized and operated exclusively for such purposes.
FIFTH: The address at which the business of this corporation is to be carried on is...
SIXTH: The amount of capital stock, if any, or
the number of shares or membership certificates, if any, and provisions
for retirement, reacquisition and redemption of those shares or
certificates are...
SEVENTH: Provision eliminating or limiting the personal
liability of a director, an officer or both, to the corporation or its
shareholders for monetary damages for breach of fiduciary duty as a
director, an officer or both is...
EIGHTH: Signatures and post office address of each of the persons associating together to form the corporation
_____________________________________________
Signature Street
_____________________________________________
Name (please print) City/Town State Zip
_____________________________________________
Signature Street
_____________________________________________
Name (please print) City/Town State Zip
_____________________________________________
Signature Street
_____________________________________________
Name (please print) City/Town State Zip
_____________________________________________
Signature Street
_____________________________________________
Name (please print) City/Town State Zip
_____________________________________________
Signature Street
_____________________________________________
Name (please print) City/Town State Zip
Mail fee and DATED AND SIGNED ORIGINAL to: Corporation Division,
Department of State, 107 North Main Street, Concord, NH 03301-4989
Reference Links:
Examples of Articles of Formation
Typical issues which are likely to arise in making a 501(c)(3) application
include:
1. Cost: filing fees are currently $500! (Small Entity, anticipating
annual income averaging no more than $10,000 per year, can qualify for a
reduced fee of $150.)
2. Timeliness: a 501(c)(3) letter will be retroactive (meaning that the
recipient of a such exempt status will be able to offer tax-deductibility
of donations back to the group's initial incorporation date) if the
application is filed within 27 months from the date of incorporation.
Pointer: for an Entity who has only recently incorporated, be aware that
back periods prior to the date of incorporation will generally not be
covered by the Entity's exemption letter, as activities conducted prior to
incorporation are not considered "owned" by the applicant.
3. Information required: a complete narrative of what activities will be
undertaken by the Entity, accomplished by who (and for what pay, if any)
must be included with the application. Also required are two years of
Entity budgets which need be tied to this narrative.
4. Technical tax stuff: Form 1023 applications should be reviewed by
knowledgeable tax counsel prior to their submission. The Form itself
contains several "red flag" and/or arcane technical points which Entities
or organizations should not answer without assistance.