A regular conversation with some of the most influential movers and shakers in business and markets hosted by Rob Cox, global editor of Breaking views. (Click to listen Apple podcast)
The RNPC is a legal vehicle that can be used to hold property and protect the property from liens, levies, seizures and confiscation from events arising as a result of your personal actions.
This includes all property and /or assets, including homes, automobiles, RVs, and other such property when held in the corporation’s name. When property is held by an NPC you do not own it personally. You are the overseer to the property only, and in the event of your demise, another Board Member would move in to manage the property.
Terms to know here: Quick Claim deed – How can I use here? Property Taxes – do you pay them w 508? Request a PDF Pay initial fee of $75/Session (1 hr) and get full details.
Introduction: In non-profit organizations, a lesser-known status exists that provides unique advantages to faith-based organizations. This status, known as 508(c)(1)(a), offers a range of benefits that set these organizations apart from traditional 501(c)(3) entities. In this blog, we will delve into the various advantages of being a 508(c)(1)(a) non-profit organization and explore why it is a compelling option for faith-based groups seeking to make a meaningful impact.
Tax Exemption without Application: One of the most significant benefits of 508(c)(1)(a) status is that it allows faith-based organizations to operate as tax-exempt entities without the need for a formal application to the IRS. Unlike 501(c)(3) organizations, which must undergo a thorough application process, 508(c)(1)(a) organizations are automatically recognized as tax-exempt from the moment of their establishment.
While exploring when this can be done for you, here is some basic answers to common questions.
RNPC is a RELIGIOUS NONPROFIT CORPORATION (known by Congress as 508)
WHAT ARE SOME OF THE PURPOSES OF AN RNPC?
A RNPC is typically organized for religious and humanitarian purposes. What a RNPC does is determined by the Board Members.
DO I NEED BYLAWS FOR THE CORPORATION?
It is not necessary to have bylaws that govern the operation of the corporation. It is important to develop a Mission Statement as the guiding instrument for the corporation. Bylaws might be useful but are not required. Ask about Board of Directors.
IS THE CORPORATION REQUIRED TO HAVE AN ANNUAL BOARD MEETING?
No, however it is important to keep written records of important decisions, filed in the corporate minute book (ask about preferences).
HOW ABOUT RECORD KEEPING?
No records are required for the State or Federal Government, or the IRS. The only records kept are for the private use of the corporation. Because the corporation does not have employees, can offer donation slips, and does not have a 501(c)3 designation, it is exempt from record keeping requirements. Ask more in Session with Darren.
CAN A PROJECT BE MANAGED BY A CORPORATION?
Most definitely. In fact, we encourage you to set up your own RNPC and have the project proposal incorporated within the framework of the RNPC. Ask about projects in Session.
Ask us how to set one up for you in April 2024. Payment plans available. Ask about an initial session of $75 per session to start the Detailed startup process and how to be successful at this operationally and financially.
Presented by Redare Journals, is this exploration of societies seen in the world; a division of the growing Billionaires and the growing Poor; an obvious shrinking middle-class. The outspoken viewpoints are to determine solutions as what philanthropists should do to solve these issues. Send us comments on how you wish to get involved!
