If you’re thinking of starting a non-profit and wondering what form of entity you should use, this is the post for you.  Non-profits are different than for-profits, as I’m sure you know, because non-profits do not have "owners" in the traditional business sense.  You can’t build equity in a non-profit because all of its profits are plowed back into its activities.  So, for that reason, the form of business is different than traditional for-profit entities.

In Virginia, you may form a "non-stock corporation" as the entity.  This is very similar to a traditional corporation but with no shares of stock (hence the "non-stock" in the name).  The non-stock corporation is run by either a Board of Directors or Members, or a combination of the two.  More information regarding exactly how to form a non-stock corporation for your non-profit can be found here: http://www.dietzlawfirm.com/VirginiaNonprofits.htm.

And if you’re ready to start your non-profit and want to make sure it’s done properly, check out our new quick and easy formation service for non-stock corporations. 

This entry was posted on Monday, November 5th, 2007 at 11:27 pm and is filed under Virginia non-profits. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.