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Foundation of non-profit organization

Asked by: Kornelija Koneska - 9 October, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 Please let me know how many founders can form non-profit organization (association) according to the law of Delaware, is there any limitation regarding the residences of the founders and what is the founding deposit?
Answered by: Robert Kowalski - 11 October, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/35.jpg-687fc92d5f6c5febcbdccb6895b08b8c Kornelija,

Non-profit organizations don't have owners or shareholders - what they have is directors (who manage the organization) and officers (who run day to day operations).

To organize a non-profit you need to have a board of directors comprised of at least 3 different physical persons. I don't believe there is any particular restriction on the place of residence of those directors, and I don't think there is any deposit required, but keep in mind the costs of establishing a non-profit, including getting the tax-exempt status can run into many hundreds to over a thousand dollars.

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