Non-Profit Corporations

Do you have a goal of making the world a better place, and some ideas on how to do it, but do not have the financing to bring those two together? A non-profit corporation may be the solution. The Michigan Non-Profit Corporation Act permits the formation of corporations on either a membership or directorship basis. A membership corporation entitles the members to vote in determining corporate action. A corporation organized on a directorship basis may have members, but the members may not vote and the corporate action is determined by the board of directors. Generally these business enterprises go on to obtain federal tax exempt status from the Internal Revenue Service, and claim IRC Section 501c status to obtain tax deductible contributions and donations to finance their business purposes.