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Old 06-30-2019, 06:22 AM   #1
neko100
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Default Nonprofit chairman at 17 yrs old

Texas

My nephew started a nonprofit corporation and is 17 -- can he still be the chairman of the board and CEO?
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Old 06-30-2019, 09:56 AM   #2
Highwayman
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Default Re: Nonprofit chairman at 17 yrs old

Why do you care?

Let him deal with his own legal issues.
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Old 06-30-2019, 10:05 AM   #3
adjusterjack
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Default Re: Nonprofit chairman at 17 yrs old

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Originally Posted by neko100 View Post
Texas

My nephew started a nonprofit corporation and is 17 -- can he still be the chairman of the board and CEO?
Probably, but I doubt that (as a minor) he will get past just putting it on paper.

People tend not to do business with minors because minors can disavow their contracts.
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Old 06-30-2019, 12:34 PM   #4
neko100
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Default Re: Nonprofit chairman at 17 yrs old

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Probably, but I doubt that (as a minor) he will get past just putting it on paper.

People tend not to do business with minors because minors can disavow their contracts.
Yes I think that may be an issue as well.
He could have a family member assist...there are several that are willing to help him until he comes of age.

I'll suggest it.


He will also be meeting with a nonprofit lawyer in two weeks but we are going through the issues that he wants to discuss.

Thanks for the response!
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Old 06-30-2019, 03:19 PM   #5
adjusterjack
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Default Re: Nonprofit chairman at 17 yrs old

What is the nature of this non-profit? What does he plan to accomplish with it.

How soon will he be 18?

Seeing a lawyer is an excellent idea.

After that he should see a CPA.

He will have to get approval from the IRS under 501(C)(3) for tax exempt status.

Any entity can be non-profit (not make any money) but there are special requirements to be tax exempt.
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