This document discusses the benefits of incorporation for Georgia Jaycee entities and provides information about their current corporate statuses. It outlines the various legal definitions for an entity's status in Georgia, such as being active and in compliance with filing requirements versus being administratively dissolved for failure to file annual registrations. The document also describes the state and IRS procedures for reinstating nonprofit status or obtaining it for a new chapter, such as paying fees and filing required forms. Current statuses are provided for local chapters and state organizations, showing most are active but some owe current year fees or have lost status due to lack of compliance.
In November 2013 the Washington state Department of Early Learning (DEL) received a complaint that University Child Development School (UCDS) in Seattle was refusing to make reasonable accommodations for a 5 year old student with type 1 diabetes as is required of the school by law. The DEL conducted an investigation and found the complaint against UCDS to be valid. UCDS appealed the DEL ruling twice. This is the letter sent by the DEL to inform UCDS that it was upholding its original decision after the school's second appeal.
Cloud based <a>Online Accounting Software</a> for day to day needs of accountants and sme's, allows you to manage payroll, bookkeeping for free.
Learn More :- https://www.capium.com
Check out this slideshare to learn essential steps for faster invoice collection, B2B accounts receivable best practices, and the benefits of accounts receivable management automation. Learn even more at www.anytimecollect.com
This course discusses basic concepts of accounting.
Course Objectives: (i) Help the participants to become intelligent users of accounting information (a) Understand the basic accounting and financial terminology. (b) Understand how events affect firm value (c) Understand how financial transactions are recorded. (d) Make the participants’ comfortable looking through financial statements (ii) Develop the ability in participants’ to use financial statements to assess a company’s performance.
Course Fee: Free of Cost
What you'll learn
• Understand need and importance of Accounting
• Understand Book Keeping, Objectives and Advantages
• Understand Accounting Process, Accounting Cycle,
• Understand Users of Accounting Information
• Understand Branches of Accounting
• Understand Basic Accounting Terms
• Understand Accounting Assumptions, Concepts and Principles
• Understand Rules of Accounting
• Understand Journal, Ledger, Trial Balance and Final Accounts Preparation
In detail view of Everyday session topic covers:
This is a comprehensive course, covering each and every topic in detail. In this course, you will learn Fundamentals of Accounting, step by step covering the following:
In November 2013 the Washington state Department of Early Learning (DEL) received a complaint that University Child Development School (UCDS) in Seattle was refusing to make reasonable accommodations for a 5 year old student with type 1 diabetes as is required of the school by law. The DEL conducted an investigation and found the complaint against UCDS to be valid. UCDS appealed the DEL ruling twice. This is the letter sent by the DEL to inform UCDS that it was upholding its original decision after the school's second appeal.
Cloud based <a>Online Accounting Software</a> for day to day needs of accountants and sme's, allows you to manage payroll, bookkeeping for free.
Learn More :- https://www.capium.com
Check out this slideshare to learn essential steps for faster invoice collection, B2B accounts receivable best practices, and the benefits of accounts receivable management automation. Learn even more at www.anytimecollect.com
This course discusses basic concepts of accounting.
Course Objectives: (i) Help the participants to become intelligent users of accounting information (a) Understand the basic accounting and financial terminology. (b) Understand how events affect firm value (c) Understand how financial transactions are recorded. (d) Make the participants’ comfortable looking through financial statements (ii) Develop the ability in participants’ to use financial statements to assess a company’s performance.
Course Fee: Free of Cost
What you'll learn
• Understand need and importance of Accounting
• Understand Book Keeping, Objectives and Advantages
• Understand Accounting Process, Accounting Cycle,
• Understand Users of Accounting Information
• Understand Branches of Accounting
• Understand Basic Accounting Terms
• Understand Accounting Assumptions, Concepts and Principles
• Understand Rules of Accounting
• Understand Journal, Ledger, Trial Balance and Final Accounts Preparation
In detail view of Everyday session topic covers:
This is a comprehensive course, covering each and every topic in detail. In this course, you will learn Fundamentals of Accounting, step by step covering the following:
Final assignment OF IIM-L INTERNSHIP - GETFIT MARKETING PLANAnkan Mukherjee
Slides made by ANKAN MUKHERJEE, IIT-ROORKEE, under the guidance and supervision during the Internship of Marketing Management by Prof. SAMEER MATHUR of IIM-Lucknow from 13 June- 10 July, 2016.........
Slides made by ANKAN MUKHERJEE, IIT-ROORKEE, under the guidance and supervision during the Internship of Marketing Management by Prof. SAMEER MATHUR of IIM-Lucknow from 13 June- 10 July, 2016.........
Ankan Mukherjee, IITR -- IIM-L Internship Assignment 1Ankan Mukherjee
Slides made under the guidance and supervision during the Internship of Marketing Management by Prof. Sameer Mathur of IIM-Lucknow from 13 June- 10 July, 2016.........
Understanding LLC Fundamentals in North CarolinaBen Wann
This informative presentation is designed to provide a comprehensive overview of the essential aspects of forming and operating a Limited Liability Company (LLC) in North Carolina. Whether you're considering starting an LLC or already running one, this session will equip you with the knowledge needed to navigate the LLC landscape effectively.
To maintain corporate good standing status in most states, nonprofits are required to file annual or periodic reports with the Secretary of State, just like their for-profit counterparts. Though the forms and procedures are similar in every state, there is very little uniformity in how states handle due dates, fees, signature requirements, filing methods (paper vs. online) and additional filing requirements of other state agencies. Though the fees and financial penalties for failing to make these required filings are usually nominal, there are much more damaging consequences for failing to comply.
It is imperative that nonprofit organizations fulfill all state corporate compliance obligations in a timely manner. Compliance is not an option; it’s the law, and noncompliance or late filings can be costly in many ways. Aside from the monetary penalties, in terms of late fees and other potential costs, there are more damaging consequences of noncompliance, such as:
• Loss of good standing and ability to conduct business in a state
• Suspension, revocation, or administrative dissolution
• Loss of right to use the nonprofit’s name
• Loss of access to courts
• Damage to the nonprofit’s reputation which can result in a decrease in donations
In the event of revocation or dissolution, usually there is the added expense of reinstatement or requalification, which can easily reach hundreds of dollars in some states.
Keeping up with the ever-changing requirements and differences from state to state in nonprofit corporate compliance can be quite a challenge. This program will provide a broad overview of state corporate compliance requirements for nonprofits and valuable reference material that will assist you in meeting these requirements.
Fundraising from America - A Guide to State Registration (New look slides)Adam Davidson
New look slides!
Are you sure you know all about this often-misjudged requirement that is fast becoming one of the most common Noncompliance issues when Fundraising from America?
US states are increasingly requiring registration if you fundraise in their state. If you have an office, address, staff, bank account or other ‘permanent’ activities in a state you may also be required to register in that state to do business. Each state is different in what it considers fundraising – in some merely having a website is enough. We will highlight what this could mean for your 501(c)(3) organisation – what constitutes fundraising or operating a state, what registration is required and when you should do so and how much it will cost you either to register or in penalties if you fail to do so.
Did you know that 35 states now require commercial collection agencies to be licensed and bonded to collect in their state regardless of where they are domiciled?
ACCESS is fully compliant
Deborah Sweeney, Esq., CEO of MyCorporation, advises new small business owners on how to incorporate or form an LLC. Mrs. Sweeney also details the benefits of incorporation and limited liability company formation, and covers the various different types of business entities that small business owners can choose.
This presentation was originally given for the MBA Women International Webinar Series.
California as a Backdrop for Recent State Tax DevelopmentsCBIZ, Inc.
recent California income and franchise tax developments and how those developments compare and contrast with income and franchise tax laws in other states.
Відкрита дискусія «Міфи про Делавер VS особистий досвід. Частина 1»? організована Комітетом АПУ з питань телекомунікацій, інформаційних технологій та Інтернету, Київ, 15.03.2017
2. Agenda
Benefits of Incorporation
State of Georgia Definitions
Corporate Status of Georgia Jaycee Entities
Process for Reinstating or Obtaining Nonprofit
Status
Web Links
3. The Benefits of Incorporation
Legal Protections
– Limited personal liability protection
Corporation’s debts and other obligations
– Exceptions to personal liability protections
– Ability to sue
– No incorporation – no ability to sue
Tax exemptions
Grant money
Tax deductible donations
4. State of Georgia: Status
Definitions
ACTIVE/COMPLIANCE: The entity is active upon
the records of the Secretary of State, and in compliance with
the annual registration filing requirements.
ACTIVE/OWES CURRENT YEAR AR: The
entity is active upon the records of the Secretary of State, and
in compliance with the annual registration filing requirements.
The entity's annual registration is due by April 1 or, if it is a
domestic corporation, within 90 days of the 'filing date'.
5. State of Georgia: Status
Definitions
ACTIVE/NONCOMPLIANCE: The entity is active
upon the records of the Secretary of State, but is not in
compliance because of failure to file an annual registration
either within ninety (90) days of its initial filing date or by the
statutory due date as required by Georgia Law.
ADMINISTRATIVELY DISSOLVED: The
corporation or LLC has been administratively dissolved for
failure to file annual registrations. Typically 2-3 years of
noncompliance with annual reporting requirements.
INVOLUNTARY DISSOLUTION: The corporation
was part of the May 1, 1981 mass involuntary dissolution.
6. Current Corporate
Status
29 Local Chapters
– 1 Active Compliance
– 15 Active/Owes Current
Year
– 3 Active Noncompliance
– 8 Auto Admin
Diss/Revocation
– 1 Involuntary Dissolution
– 1 No Status
3 State Organizations
– 3 Active/Owes Current
Year
11 Other Jaycee
Entities
– 2 Active Compliance
– 5 Active/Owes Current
Year
– 3 Active Noncompliance
7. Mountain Region
Active Compliance
– Atlanta
Active/Owes Current Yr
– Blairsville
– Dahlonega
– Gainesville
– Kennesaw
– Lanier
– Marietta
– Newnan-Coweta
– Woodstock
Active Noncompliance
– Georgia Korean
Auto Admin Dissolution
Revocation
– Athens
– North Fulton
8. Central Region
Active/Owes Current Yr
– Cochran
– Columbus
– Dublin
– Swainsboro
Active Noncompliance
– Waynesboro
No Status
– Gray
Auto Admin Dissolution
Revocation
– Lizella
– Macon
– McRae
9. Costal Region
Active/Owes Current Yr
– Brunswick
– Golden Isles
– Savannah
– Waycross
Active Noncompliance
– Statesboro
Auto Admin Dissolution
Revocation
– Bainbridge
– Fitzgerald
– Jessup
Involuntary Dissolution
– Baxley
10. State Entities
Active/Owes Current Year
– Georgia Junior Chamber of Commerce
– Georgia Jaycette Foundation
– Georgia Jaycee Foundation
11. Other Entities
Active compliance
– Gainesville Jaycees
Vocational Rehab Center, Inc.
– Atlanta Jaycee Foundation
Actives/Owes Current YR
– Americus Jaycees ESF, Inc.
– Augusta Jaycees-VA Pre-
employment Clinic, Inc.
– Lanier Jaycees Charitable
Fund, Inc.
– Warner Robins Jaycees/Miss
Warner Robins Scholarship
Corp
– Woodstock Jaycees
Foundation, inc
Active/Noncompliance
– Americus Jaycees, Inc.
– Savannah Jaycees
Foundation, Inc.
– Toccoa-Stephens County
Junior Chamber of
Commerce, Inc.
12. Obtaining Nonprofit
Status
State Procedures
– Reinstatement
– New Incorporation
IRS Procedures
– Employee Identification Number
– US Jaycees Umbrella 501(c)(4) Status
13. State Filing Procedures -
Reinstatement
Request for Reinstatement Form
$100 filing fee
Unpaid Annual Registration Fees ($30 per year)
14. State Filing Procedures – New Chapter
Optional Name Reservation ($25)
Initial Submission ($100)
– Transmittal Form 227
– Articles of Incorporation (2 copies)
Annual Registration ($30)
– Within 90 days
– Identification of corporate officers
Published Intent to Incorporate ($40)
– Official County Legal Organ – newspaper
15. Tax Exempt Status
Federal Issue
IRS Requirements
– Employee Identification Number (EIN)
(IRS Form SS-4)
– US Jaycee Umbrella 501(c)(4) status
16. Helpful Web Links
State
– http://www.sos.state.ga.us/corporations/filing_procedures.htm
– http://www.georgiacorporations.org/
– http://www.georgiacorporations.org/legal_organs.pdf
Federal
– https://sa2.www4.irs.gov/sa_vign/page?content=howto.jsp&title=
IEIN+HowTo&menubar=menubarHelp.jsp
– http://www.irs.gov/charities/charitable/article/0,,id=122670,00.html
US Jaycees
– http://www.usjaycees.org/Forms/ChapterManagement/GroupExemption.pdf
State Bar Of Georgia – Pro Bono Project
– http://www.gabar.org/related_organizations/pro_bono_project/
Benefits
Legal protections
Limited personal liability protection as an officer and member for any negligent acts
Exceptions: when a director or officer of the corporation;
Personally and directly injures someone
Personally guarantees a bank loan or business debt of corporation
Fails to deposit taxes or file tax returns
Does something intentionally fraudulent, illegal, that causes harm
Co-mingles personal and corporate funds
Ability to sue on behalf of a the corporation and enforce legal agreements
No incorporation – no right to sue on behalf of the organization
No incorporation – may be liable for other legal claims ex. Fraud
Other benefits
Tax exemptions – filing of federal tax exempt status permits non-profit organizations to be exempt from paying state and federal taxes
Access to grant money – typically a requirement for obtaining funds from government agencies and private foundations. May be a requirement for obtaining funds from the GAJC Foundation in the future.
Tax deductible donations– depending on your federal tax status. If you file as a 501(c)(3) donations to your chapter will be tax exempt. If you file under another section f the IRS code – typically 501(c)(4), donations will not be tax exempt. US Jaycees is a 501(c)(4)
501(c) is a provision of the United States Internal Revenue Code (26 U.S.C. § 501(c)), listing twenty-eight types of non-profit organizations exempt from some Federal income taxes
Section 501(c)(3) is just one of the tax law provisions granting exemption from the federal income tax to non-profit organizations.
This exemption does not cover other federal taxes such as employment taxes.
501(c)(3) exemptions apply to corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals.
Another provision, 26 U.S.C. § 170, provides a deduction, for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable in order to be allowed (e.g., receipts for donations over $250).
The three principal classifications of 501(c)(3) organizations are as follows:
A public charity, identified by the Internal Revenue Service (IRS) as &quot;not a private foundation,&quot; normally receives a substantial part of its income, directly or indirectly, from the general public or from the government. The public support must be fairly broad, not limited to a few individuals or families. Public charities are defined in the Internal Revenue Code under sections 509(a)(1) through 509(a)(4).
A private foundation, sometimes called a non-operating foundation, receives most of its income from investments and endowments. This income is used to make grants to other organizations, rather than being disbursed directly for charitable activities. Private foundations are defined in the Internal Revenue Code under section 509(a) as 501(c)(3) organizations which do not qualify as public charities.
A private operating foundation is a private foundation that devotes most of its earnings and assets directly to the conduct of its tax exempt purposes, rather than to making grants to other organizations for these purposes. Private operating foundations are defined in the Internal Revenue Code under section 4942(j)(3).
501(c)(4) exemptions are given to civic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare, or local associations of employees, the membership of which is limited to the employees of a designated person or persons in a particular municipality, and the net earnings of which are devoted exclusively to charitable, educational, or recreational purposes.[5]
The exemption does not apply &quot;unless no part of the net earnings of such entity inures to the benefit of any private shareholder or individual
Unlike donations to the more prevalent 501(c)(3) non-profit organizations, donations to a section 501(c)(4) organization are not deductible by the donor under section 170 of the code unless the recipient organization is a volunteer fire department as described in revenue ruling 80-77 or veteran organizations with at least 90% of its membership consisting of war veterans as described in IRS Revenue Ruling 84-140.
State Procedures – Reinstatement
A corporation that is administratively dissolved may reinstate by filing an application for reinstatement;
Paying a $100 filing fee;
Paying any unpaid annual registration fees ($30/year).
However, if another entity has filed under that corporation’s name during the period of administrative dissolution, a new name must be selected.
EIN Number: Register with the IRS and obtain a Federal tax identification number, also called an Employer Identification Number (EIN). The EIN is necessary because, without it, the new chapter cannot obtain a non-profit status as a chapter, they may have tax or audit issues with the IRS, and they will not be able to open a bank account or many times, lease venues for their projects. The easiest way to obtain an EIN is by phone. By calling 1-866-816-2065, you can get an EIN in five minutes. Otherwise, you can go to: www.irs.gov/formspubs/index.html and select the appropriate form (Form SS-4) from those listed.
Non-profit status: The U.S. Jaycees already have non-profit status and a group exemption number that works as an umbrella for all Jaycee chapters in the United States. All you have to do is pull the &quot;Group Exemption&quot; form off of the U.S. Jaycee website (www.usjaycees.org), fill in the information concerning your EIN and corporate name, and fax it to: the Group Exemptions Officer at (918) 584-4422 at the United States Jaycee Headquarters. You will receive a letter from the national organization showing that you are included under this group exemption umbrella and this will be your proof of non-profit status for any venues, sponsors, promoters or other organizations that ask you for such information in the future.