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Should your non-profit have members?

Should your non-profit have members?

Members significantly increase a non-profit corporation’s operation and recordkeeping burden, and members also restrict the actions that non-profit corporations (“NPC”) can take without a vote of approval by the membership. However, memberships are also an excellent way to bring in steady revenues and spread knowledge about and participation with your NPC. In short, you should Read More

Corporate Purpose: Does It Matter?

Corporate purpose defines the outer limitations on what your corporation is permitted to do. Historically, corporate purpose was very important because corporations were prohibited from asserting general purpose statements. However, modern corporate reform removed these limitations, and corporations may now use general purpose statements – and indeed most do. Corporation Purpose: Historical Perspective Historically, the Read More

Corporate Bylaws: A Primer

Bylaws are the structure of the corporation: its election procedures, meeting rules, distribution structure, conflicts of interest, and other important issues that the corporation must address. Think of the bylaws as your corporation’s “laws.” The bylaws are semi-permanent. They can be updated and should be reviewed at least every other year. Contrast the bylaws with Read More

Articles of Incorporation: A Primer

The essential difference between Articles of Incorporation (“Articles”) and Bylaws is that the articles are filed with the Secretary of State and are the official starting documents for the corporation. Conversely, bylaws are kept internally with the corporation and are never filed with the State. These two principal documents govern corporations. Think of the articles Read More

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