Foundation of non-profit organization
Asked by: Kornelija Koneska - 9 October, 2013
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?
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
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.
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.
