Making Your Charitable Dreams a Reality – Part One: Formation
The attorneys at Waldron & Schneider enjoy helping clients make their charitable dreams come true by turning their charitable ideas and passions into an official charitable organization or private foundation.
Achieving tax-exempt status requires several steps including: forming a corporate entity, obtaining an employer identification number (“EIN”), applying for tax exemption, and maintaining your entity once tax-exempt status is granted. In this blog, we will talk about formation of the corporate entity.
Once you have an idea for a charitable purpose, call the attorneys at Waldron & Schneider to schedule a meeting to discuss how to form your corporate entity. We will help you decide the appropriate type of corporate entity; complete and file the required paperwork with the State of Texas; obtain your EIN; and create your corporate book. One of the documents included in the corporate book is the Bylaws for your corporate entity. It is important to have an experienced nonprofit attorney prepare your Bylaws and other formation documents because there are important differences between these documents when prepared for a nonprofit entity vs. a for-profit entity. Failing to meet these specific requirements can impact your ability to achieve tax exempt status.
Please call to schedule an appointment with one of the attorneys at Waldron & Schneider to get your nonprofit entity formed today.
In the next part of this series, we will discuss the tax exemption application process.
The legal information in this blog entry is not intended to be a substitute for seeking personalized legal advice from an attorney licensed to practice in your jurisdiction. Further, nothing contained in this article is intended to create an attorney-client relationship with any reader. This article and website are made available by Waldron & Schneider for educational purposes only and to give basic information and a general understanding of the law, not to provide specific legal advice. By using this website you understand that there is no attorney client relationship between you and Waldron & Schneider. The article and website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. For more information or questions you can contact us and one of our attorneys will be in touch soon.
Throw back Thursday. In 1998, the attorneys and staff of Waldron & Schneider broke ground at the current location. ... See MoreSee Less
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I remember that! Loved working there ❤️
I've never seen this before!
Makes me sad. But love it
Randy and Robbye ❤️
Oh wow!
Partner Kimberly Bartley writes about why a business may need a risk assessment policy in her blog.
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Why do I need a Risk Assessment Policy?
www.ws-law.com
Risk Assessment Policies are a great tool to help business define areas of risk or vulnerability, both to their staff and customers.Partner Richard Simmons with his wife Jennifer and State Rep. Dennis Paul at the Space Center Rotary LEAP awards ... See MoreSee Less
Congratulations to partner Richard Simmons’ son Jacob and the Lakers for winning the Clear Lake Boys Basketball 2023 Championship. ... See MoreSee Less
Associate Attorney Shawn Williamson and his wife Kim Williamson attended the Economic Alliance Houston Port Region Annual Membership Banquet with Royal Harbor Partners Wealth Management Firm. The Economic Alliance brings together the industries main players and members of the Economic Alliance. Waldron and Schneider was honored represent the firm and it's commitment to the local economy and its businesses, small and large. ... See MoreSee Less