What to Include in Non-Profit Statute
A Non-Profit Statute, also known as Non-Profit Bylaws, set forth the structure and operations of a non-profit organization. A non-profit organization is defined by the Internal Revenue Code as an organization that is “operated exclusively for exempt purposes,” and its earnings cannot “inure to any private shareholder or individual.” Commonly referred to as charitable organizations, non-profits typically require bylaws to dictate the organizational structure. This article will guide you through what you need to include in your Non-Profit Statute.
Identifying Information: The first step is to list pertinent information about the organization at hand. This includes the name of the organization, the purpose of the organization, and the organization’s tax-exempt status.
Meetings: This section should include the date, time and location of the annual board meeting. It should also include the general topics that are to be covered at these meetings. Your organization may need to call special meetings to make a decision before the annual board meeting; you should include who can call a special meeting, how much notice is required, and how the board members should be notified.
Board of Directors: This section should specify the number of directors, how a director is to be elected, how long each director will serve, the amount of compensation, and the powers the board will hold.
Officers: Officer positions should include a President, Vice President(s), Secretary, and Treasurer. This section should determine how officers will be elected, the term of their appointment, and their general responsibilities and powers. It should also include a set amount of compensation for each position.
If you are ready to form your Non-Profit Statute, start by filling out this free step-by-step template.