Author: Volunteer Lawyers for the Arts

Publication Year: 1981

Media Type: Book

Summary:

This guide has been designed to help you and other members of your group investigate the possibility of forming a legal entity through which to conduct your artistic activities. You probably have some idea of the advantages of becoming a not-for-profit, tax-exempt organization: eligibility for certain public funds, the ability to attract tax-deductible contributions, and the increased professional exposure and credibility. However, you should be aware that creating such an organization entails legal and financial responsibilities, and you will need a lawyer. This guide is not intended to substitute for an experienced attorney. No publication can do that. Rather, it is intended to give you an overview of how such an organization is formed, and to alert you to the critical questions you should be asking of yourself and of your attorney.

Abstract:

This guide has been designed to help you and other members of your group investigate the possibility of forming a legal entity through which to conduct your artistic activities. You probably have some idea of the advantages of becoming a not-for-profit, tax-exempt organization: eligibility for certain public funds, the ability to attract tax-deductible contributions, and the increased professional exposure and credibility. However, you should be aware that creating such an organization entails legal and financial responsibilities, and you will need a lawyer. This guide is not intended to substitute for an experienced attorney. No publication can do that. Rather, it is intended to give you an overview of how such an organization is formed, and to alert you to the critical questions you should be asking of yourself and of your attorney. (p. 1)

CONTENTS
Preface.
Organizing: Profit or not-for-profit.
Organizing as a not-for-profit group.
The unincorporated association.
The not-for-profit corporation.
Tax exemption.
501(c)(3) and 501(c)(4) organizations.
The certificate of incorporation.
By-laws.
Applying for tax exemption.
The Board of Directors.
Corporate responsibilities.
In conclusion.

Arts & Intersections:

Categories: