Not for Profits
Nonprofit organizations are tax exempt businesses that are deemed to operate for the public benefit. Generous individuals establish nonprofit organizations to advance a variety of causes such as those that are charitable, academic, scientific, artistic, or religious.
Additionally, many families have enjoyed the benefits of private foundations established by their predecessors, both as a source of security and as a continuing legacy of commitment to a charitable cause.
The federal government often recognizes the societal benefits of nonprofit organizations by allowing the nonprofit entity an exemption from income tax and allowing benefactors of the nonprofit entity to deduct their donations from their taxable incomes.
Loss or denial of tax exempt status can be devastating to your nonprofit organization. Many attorneys are unprepared to handle the complex provisions of the Internal Revenue Code that govern the operation of nonprofit organizations.
Thankfully, at Ourednik Law Offices, we are educated in the specifics of nonprofit law and are available to assist you in resolving all nonprofit legal issues. From establishment to defense of status, we are prepared to serve you!
Contact Ourednik Law Offices today.