120 St Regis Drive, Newark, DE, Wilmington, DE
We are looking into the possible steps to form a 501(c)(3) nonprofit corporation in Delaware.
This nonprofit will likely be an offshoot of the Delaware Coalition of Reason that will act as a true umbrella for all current existing groups and any future groups that may form for the same search for objective truths that we do, relying, as we do, upon the application of reason, the lessons of history, and personal experience to form an ethical/moral foundation and to create meaning in life.
Most nonprofits are 501(c)(3) organizations, which means they are formed for religious, charitable, scientific, literary, or educational purposes and are eligible for federal and state tax exemptions. To create a 501(c)(3) tax-exempt organization, first, you need to form a nonprofit corporation under Delaware state law. Then you apply for tax-exempt status from the IRS and the state of Delaware.
Sounds easy, right? Well, it can be if we take it step by step.
One of the first steps needed is to have an organizational meeting, such as this. Our first requirement is to have bylaws that comply with Delaware law. Our bylaws contain the rules and procedures that our nonprofit will follow for holding meetings, electing officers and directors, and taking care of other corporate formalities required in Delaware. These bylaws do not need to be filed with the state -- they are simply our internal operating manual.
At this organizational meeting we will try to accomplish the following items:
• approving the bylaw
• selecting directors
• appointing officers
• setting an accounting period and tax year, and
• approving initial transactions of the corporation, such as the opening of a corporate bank account.
After the meeting is completed, we will need to create minutes that accurately record the actions taken.
While everyone is invited to take part in this organizational meeting, it is hoped that those who attend intend to be part of the on-going process; i.e. accepting positions of either directors, officers, committee leaders, and the like.