up:: La Finka - Research - Org Structure
tags:: #research
owner::
status::

References

• IRS Application for exemption
• IRS 501c3 Exemption Requirements
• DAO & Non Profit
• Alliance For Nevada Non Profits

Questions

• Q:: Does Nevada have limited liability protection provisions for unincorporated nonprofit associations?

Documents

• Non Profit - Bylaws for La Finka
• Non Profit - Conflict of Interest Policy for La Finka
• Non Profit - Meeting General Agenda
• Non Profit - Annual Reports
• Non Profit - Financial Documents

Steps to Form a Non-Profit in Nevada

1. Define Your Mission and Vision

You’ve already articulated a clear mission and vision for La Finka. Ensure these are well-documented as they will guide your organization and be critical in legal documents and when communicating with stakeholders.

Mission

"At La Finka, we ignite creativity, cultivate innovation, and empower a vibrant community to build a thriving future. We harness the power of art, technology, and sustainable practices to explore new possibilities, share knowledge, and inspire action. Our mission is to create a self-sustaining haven where individuals flourish, ideas collide, and a brighter tomorrow takes root."

Vision

"Our vision at La Finka is to be a catalyst for transformative experiences that merge creativity with technology and sustainability. Nestled in the heart of Reno, Nevada, we envision a world where our community hub serves as a model for sustainable living and innovative problem-solving. We aim to inspire a global network of similar spaces, each fostering creativity, learning, and sustainable development, contributing to a healthier, more connected and sustainable world."

2. Choose a Name

Select a unique name that complies with Nevada state requirements. The name should not be similar to any existing entity registered in Nevada. You can check name availability through the Nevada Secretary of State’s website.

La Finka

3. Incorporate Your Non-Profit

File Articles of Incorporation with the Nevada Secretary of State. This document establishes your non-profit legally and includes your non-profit’s name, purpose, office address, and information about your initial directors and registered agent.

A. https://www.nvsilverflume.gov/startBusiness

Non Profit Organization Options

• Domestic Nonprofit Cooperative Corporation With or Without Stock (NRS 81)
• Domestic Nonprofit Cooperative Corporation Without Stock (NRS 81)
• Domestic Nonprofit Corporation (NRS 82)
• Foreign Entities Not Required to Register in Nevada - Charitable Solicitation Registration Statement (NRS 82A)
• Foreign Entities Not Required to Register in Nevada - Exemption from Charitable Solicitation Statement (NRS 82A)
• Foreign Nonprofit Corporation Qualification (NRS 80)

Domestic Nonprofit Corporation (NRS82)
This option supports nonprofit activities without the complexities of a cooperative structure and is geared towards organizations focused on community and charitable purposes without profit distribution.

North American Industry Code Classification system
Select NAICS Code for primary activity of the org

• Agricultural

  1. 111421 - Nursery and Tree Production: This code applies to establishments primarily engaged in growing trees for planting, and can also include growing plants, shrubs, and trees used in landscaping. If La Finka plans to include a nursery that sells these items, this could be a fitting classification.
  2. 112990 - All Other Animal Production: This code might seem a bit off-target, but it includes a variety of less common agricultural activities. If any part of La Finka's operations includes the integration of animals within the permaculture system, this might be relevant, though it's less specific to plants and crops.
  3. 561730 - Landscaping Services: If part of the activity at La Finka includes designing and maintaining sustainable landscapes using permaculture principles, this code could apply. It’s particularly relevant if La Finka offers services to external clients.

• Educational Services:

  • 611710 - Educational Support Services: This code includes organizations that provide non-instructional services that support educational processes or systems.
  • 624190 - Other Individual and Family Services: Although primarily for social services, this can sometimes cover educational programs and services that are community-oriented and not classified elsewhere.

• Arts, Entertainment, and Recreation:

  • 711510 - Independent Artists, Writers, and Performers: If a significant part of La Finka's activity involves arts and cultural performances.
  • 712110 - Museums: This could be applicable if La Finka has a component that functions like a museum or similar institution promoting art and culture.

• Other Services (except Public Administration):

  • 813410 - Civic and Social Organizations: This code is relevant for organizations that promote a civic, social, or fraternal purpose, which aligns closely with community engagement and activities at La Finka.

• Professional, Scientific, and Technical Services:

  • 541690 - Other Scientific and Technical Consulting Services: If La Finka provides expert advice and consultation in areas like sustainability and technology integration.
  • 1. 813319 - Other Social Advocacy Organizations: If the primary focus of the permaculture activities is educational and advocacy-based rather than commercial, this might be suitable. It covers organizations promoting social causes, and could encompass environmental advocacy through permaculture education.

Do we plan to have employees?

• Caretaker
• Nursery
• Workshop???

Do you plan to sell tangible personal property?

• Membership subscription gets you access to U-pick and some processed veggies?
• Other locally produced goods

Does your business purchase tangible personal property for storage, use or other consumption in Nevada that is 'not for resale purposes'?

• Plants
• Food - For volunteers
• Equipment for maintaining property
• Equipment for production

4. Apply for an Employer Identification Number (EIN)

Obtain an EIN from the IRS regardless of whether you plan to have employees. This number is essentially your organization’s Social Security number and is required for tax purposes and to open a bank account.

• IRS EIN Online Application: Here

5. Draft Bylaws and Conflict of Interest Policy

Bylaws are the internal rules that govern your non-profit. They should cover topics such as how directors are elected, the roles and responsibilities of officers, and how meetings are conducted.

• Non Profit - Bylaws for La Finka

A conflict of interest policy is necessary to ensure any decisions made by board members or staff are in the organization’s best interest and comply with IRS requirements.

• Non Profit - Conflict of Interest Policy for La Finka

6. Appoint a Board of Directors

Recruit and appoint individuals who align with yo ur mission and bring diverse skills to the board. In Nevada, a non-profit must have at least one director.

• Non Profit - Board of Directors of La Finka

7. Hold an Organizational Meeting

Conduct your first official meeting to approve bylaws, adopt any necessary resolutions, and record the receipt of any initial assets. The minutes of this meeting should be kept in your corporate records.

• Non Profit - First Meeting
• Non Profit - Meeting General Agenda

8. Register for State and Local Taxes

Apply for any necessary state and local tax exemptions. In Nevada, this may include sales tax and property tax exemptions. You will need to check with the Nevada Department of Taxation and your local county for specific requirements.

• Non Profit - Taxes

9. File for Federal Tax-Exempt Status

Apply for federal tax-exempt status with the IRS by filing Form 1023 (or Form 1023-EZ for smaller non-profits). This step is crucial as it allows your organization to receive tax-deductible donations and exempts you from federal income tax.

• Form 1023

10. Obtain Necessary Licenses and Permits

Depending on the activities of your non-profit, you may need specific licenses or permits. For instance, if you plan to serve food at events, you’ll need a health permit.

11. Ongoing Compliance

Ensure ongoing compliance with local, state, and federal laws. This includes filing annual reports, renewing permits and licenses, and maintaining good records of board meetings and financial transactions.

• IRS form 990 - Annual Tax Return for public charities
• Non Profit - Annual Reports
• Non Profit - Financial Documents

Additional Considerations

• Fundraising: Develop a fundraising plan to support your activities. Consider grant writing, donor campaigns, and community fundraising events.
• Insurance: Evaluate your need for various types of insurance, such as general liability, property insurance, and directors and officers (D&O) insurance.
• Community Engagement: Continuously engage the community to keep them informed about your activities and to bolster support for your projects.