Creating Nonprofit Entities
NPOS can assist organizations in becoming non-stock corporations in the State of Connecticut. It can help nonprofits draft articles of incorporation, bylaws, and other organizational documents.
Providing Legal Assistance With Taxation Issues
NPOS can provide legal assistance with taxation issues. In the past, such assistance has come in two forms:
(1) Applying for and obtaining tax-exempt status
Many nonprofits are eligible to become exempt from paying federal income taxes. To obtain tax-exempt status, organizations must fill out a lengthy application and submit documentation to the Internal Revenue Service. NPOS assists with the completion and submission of these forms.
(2) Assessing clients’ legal obligations under federal, state, and local tax laws
NPOS gives clients legal advice as to their obligations under federal, state, and local tax laws. In the past, for example, NPOS has advised clients on how fundraising activities affect federal tax status; how nonprofits can obtain property tax abatements and deferrals; and the amounts of sales tax that nonprofits must pay when selling certain items.
Drafting Contracts
Like for-profit businesses, nonprofits must often enter into legal contracts of all kinds: employment contracts, property agreements, leases, management agreements, operating agreements, service contracts, and more. NPOS can help nonprofits renegotiate existing contracts and form new ones.
Business Planning & Organizational Support
To succeed in their missions, nonprofit corporations need to have a financial and organizational plan. NPOS has helped nonprofits develop and maintain sustainable business plans. Students work to understand their clients’ goals and help them find realistic ways of achieving them.
NPOS also assists with basic organizational support, including educating clients on their obligations as nonprofit entities, demonstrating how to effectively run corporate board meetings, helping clients to develop formal internal policies, and addressing issues as they arise.
Assisting in Real Estate Transactions
NPOS helps to increase the supply of affordable housing in the New Haven area by helping its clients purchase or build affordable housing. NPOS can assist in nearly every step in this process, including obtaining tax credits, negotiating purchase and loan agreements, drafting lease and occupancy agreements, reviewing and preparing grant applications, working with architects and other building professionals, discussing site management techniques, and giving advice on general policy issues. NPOS also provides similar services for nonprofits that manage schools and support community economic development.