Re: incorporation
From: David Mandel (dlmandelrcip.com)
Date: Fri, 24 Jan 1997 01:55:04 -0600
Replying to the entire list because this may be of interest to other new
groups as well.

Query:

>Our group in Buffalo, NY is interested in information regarding
>incorporating with non-profit status. For those out there who are
>incorporated, what corporate forms did you incorporate under?
>Any extra info we'd be grateful for.
>
>Buffalo Cohousing Initiative

1. There are lots of different types of nonprofit organizations defined
under the Internal Revenue Code. The most appropriate depends on what type
of group you are (an organization that intends to merely educate about
cohousing? a core group looking for a site and starting to raise money? a
homeowner association occupying your completed homes?) Each has its own set
of eligibility requirements and restrictions. You should get competent
legal advice regarding your specific situation and plans.

2. If you mean a tax-exempt organization, the restrictions are greater and
more specific. Again it depends on what type of body you are creating.

3. If you mean an association to which people can contribute money and
claim a tax deduction for themselves, this is the most restrictive. For
starters it must be charitable, educational or religious in purpose. A
typical group of people who want to develop housing for themselves would
definitely not qualify.

4. While IRS rules apply all over the U.S., the types of associations you
can form vary a lot from state to state. Again, get good local legal advice
to help find what makes most sense for you.

David Mandel, Sacramento


Results generated by Tiger Technologies Web hosting using MHonArc.