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11-15-2006, 03:03 AM
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Join Date: Nov 2006
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How to get incorporated
To the new Sororities and Fraternities out there that have been incorporated:
What can my Sorors and I do in order for us to get this done? The Name of our organization is Eta Gamma Pi, and we are Christian as well as our brothers, Nu Gamma Psi. I just wanted to know to better help both our organizations out.
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11-15-2006, 07:41 AM
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You need to find out the laws of incorporation for your state. Information should be on the web site of your Secretary of State or similar office.
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11-15-2006, 08:15 AM
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Quote:
Originally Posted by gammagirl04
To the new Sororities and Fraternities out there that have been incorporated:
What can my Sorors and I do in order for us to get this done? The Name of our organization is Eta Gamma Pi, and we are Christian as well as our brothers, Nu Gamma Psi. I just wanted to know to better help both our organizations out.
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The specifics depend on which state your sorority is based. I'm assuming you'll be filing for non-profit incorporation. Be sure you can meet these requirements:
http://www4.law.cornell.edu/uscode/h...3----000-.html
Here is an example of filing in Texas. I'm using this as an example as I don't know where you're basing your group.
http://www.sos.state.tx.us/corp/nonprofitfaqs.shtml
Here are some basics for you:
http://nonprofit.about.com/od/nonpro...orporating.htm
Generally, you would need to do a search on your GLO's name to make sure it isn't already federally trademarked. There are searchable data bases on the internet.
You would probably need to file for a tax exemption even though you're filing for a non-profit incorporation. Be sure to read this:
http://www.irs.gov/charities/index.html
You'll also need to file for a FEIN (Federal Employer Identification Number). Banks will need this when you open up an account.
It sounds more complicated than it really is. You can do it without an attorney, but you may want to consult with an accountant.
Best wishes!
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11-15-2006, 08:47 AM
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Quote:
Originally Posted by gammagirl04
To the new Sororities and Fraternities out there that have been incorporated:
What can my Sorors and I do in order for us to get this done? The Name of our organization is Eta Gamma Pi, and we are Christian as well as our brothers, Nu Gamma Psi. I just wanted to know to better help both our organizations out.
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I would advise that if this is something that you want to do that you consult an attorney in your state and make sure things are done correctly. An attorney specializing in non-profit law (there are a number of them out there!) will know the specific ins and outs of your state's laws and will be able to get you set up quickly and efficiently. Also, since this seems to be a relatively simple matter, it shouldn't be particularly time consuming for a knowledgeable attorney.
I would actually advise consulting an attorney over consulting an accountant. An attorney will not only be able to help get your incorporated and set up, but they should be able to give you help with the tax end of things, particularly since there are many things you need to do legally to comply with the tax code. Attorneys who specialize in non-profit law should be very knowledgeable about the tax code as well.
You may very well wish to consult with an accountant when you have to file your taxes, but it's very possible that an attorney could do this as well. It certainly couldn't be a bad thing to talk to an accountant. But an accountant won't be able to help you with the legal aspect.
Do a search here on GC, as I know others have asked this question before. You may want to read those threads and possibly PM those people to find out what kinds of things they had to go through.
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11-15-2006, 09:14 AM
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Consulting an attorney could get expensive. If you don't feel comfortable with the process, by all means do so as kddani recommended.
Another alternative is to have an on-line website such as legalzoom.com do it for you for about $150 to $300.
However, most state websites will walk you through the process step by step. It's very straight-forward. If you have any questions, you can always call the number on the website. It's really not that difficult to do yourself.
But again.. go with your comfort level.
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11-15-2006, 09:26 AM
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Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.
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11-15-2006, 09:32 AM
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Quote:
Originally Posted by PenguinTrax
Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.
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Yep.
To incorporate and to be a non-profit, it's going to cost money. As a new organization, you may not have a lot of money, but if you want it to be a lasting organization, these are important things to take care of.
I'm guessing that you're all college kids. Not only do you have the stress and time consumption of starting a new group and all that involves- recruiting members, activities, etc., but you're also college kids who are there to get an education. Many of you also work. To get yourselves to the level of knowledge where you could do this on your own (AND DO IT RIGHT!) would be very time consuming and stressful. So you really have to weigh things.
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11-15-2006, 11:34 AM
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Quote:
Originally Posted by PenguinTrax
Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.
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Aren't fraternities and sororities 501c7s?
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11-15-2006, 01:44 PM
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Quote:
Originally Posted by Senusret I
Aren't fraternities and sororities 501c7s?
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Wonder if anything would be different because this is a Christian-based group.
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11-15-2006, 01:55 PM
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Do not use an internet legal site. They are wrong most of the time.
Seek out alums first. I bet there is a tax attorney who can help you out. Accountants are not a good source. They try to do legal docs, but are not authorized to do so in many instances. It is risky. Too mant accountants try to go too far.
Also, you may be able to have someone help you out for free. I do it all the time if it is easy work, like this would be.
good luck.
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11-15-2006, 03:07 PM
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Quote:
Originally Posted by PreppyTriDelta
Do not use an internet legal site. They are wrong most of the time..
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Just curious... On what do you base that on? Have you had a bad experience? If so, which site?
Quote:
Seek out alums first. I bet there is a tax attorney who can help you out.
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Excellent idea. If the OP goes to a big University, there might also be some free legal help available at the law school. There might also be some free accounting help at the school's financial dept.
Quote:
Accountants are not a good source. They try to do legal docs, but are not authorized to do so in many instances. It is risky. Too mant accountants try to go too far.
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Incorporating isn't as difficult as it sounds. It's really quite straight forward.
With the advent of state sites which will walk you through the process step-by-step, it's really surprisingly easy. But as Kddani said, if you're not comfortable with the process, best to seek out professional legal help.
An accountant doesn't need to set up your corporation-- but he or she would be good to consult regarding tax issues.
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11-15-2006, 03:56 PM
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Join Date: Sep 1999
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Quote:
Originally Posted by Senusret I
Aren't fraternities and sororities 501c7s?
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It all depends on how they are incorporated and how they file with the IRS.
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Barbara
Moderator: Recruitment & ZTA
Tallahassee APH
Use the Search, play nice, and don't make me come in there.
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11-15-2006, 04:20 PM
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Join Date: Mar 2000
Location: Kansas City, Kansas USA
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Before you contact a lawyer which will charge you $$$$. Contact the Secretary of State Office. It is usually a toll free number. Check the Yelloow Pages for Government.
They can tell you a heck of a lot more and cheaper than screwing with a lawyer.
It usually is @ $25.00 depending on the state.
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