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Old 07-17-2019, 04:20 AM   #1
FDD 200
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Default Nonprofit or an association for work with children living in poverty

Alaska


Looking for information on how to best start a nonprofit or an association for work with children living in poverty in a local town. And what are the advantages or disadvantages of a nonprofit vs. association?

Thank you!!
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Old 07-17-2019, 05:21 AM   #2
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Default Re: Nonprofit or an association for work with children living in poverty

The income of a non-profit is exempt from income taxes. The contributions are also tax exempted in most of the cases. Non-profit organizations are subject to stricter reporting requirements and getting funds is a tedious job.
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Old 07-17-2019, 12:38 PM   #3
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Default Re: Nonprofit or an association for work with children living in poverty

I wish to inform you that perhaps the greatest advantage of all for a non profit is exemption from taxes at federal, state, and local levels. In addition to tax exemption, the other advantages of forming a nonprofit corporation are permission to solicit funds, low postage rates, exemption from labor rules and in some states an immunity from tort liability. You will need to need to form a nonprofit corporation under Alaska state law (Alaska Statutes Chapter 10.20).

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Old 07-17-2019, 01:08 PM   #4
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Default Re: Nonprofit or an association for work with children living in poverty

And you will need to get approval from the IRS for tax-exempt status.
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