Follow this instructions to maintain your 501(c)(3) Nonprofit Public Charity in Illinois in good standing.
In order to maintain a 501(c)(3) nonprofit company in Illinois,
A. Federal Annual Returns
The IRS requires most tax-exempt charitable organisations to submit an annual return (Check the IRS website for a list of exceptions).
An organization’s yearly gross receipts dictate which form should be utilised to submit the annual federal return.
The IRS defines ‘gross receipt’ as “the total sums the organisation received from all sources throughout its yearly accounting period, before deducting any expenditures or expenses.”
B. Unrelated Business Profits
If an organisation earns more than $1,000 from a trade or company that is unrelated to the organization’s declared purpose, it must submit Form 990-T to pay taxes on that revenue.
If your organisation anticipates to pay $500 or more in unrelated business income taxes for the year, you must pay a quarterly estimated tax on the unrelated business income using Form 990-W.
Any incorporated nonprofit must have a registered agent with an office location in Illinois. If your registered agent or office address changes, you must submit Form NFP 105.10/105.20 with the Secretary of State to revise your Articles of Incorporation.
Your company may be terminated if you fail to inform the Secretary of State of this change.
All nonprofits in Illinois are required to submit an annual report with the Illinois Secretary of State. Annual reports may be submitted online or by mail using Form BCA 14.05.
Failure to submit the required reports may result in the termination of your company.
A standard business licence will not be required for the vast majority of Illinois NGOs. However, certain Illinois towns and/or counties may have their own criteria. Check with your local clerk or government to see whether organisations are required to get local permits and licences.
Charitable Illinois organisations must register with the office of the Illinois State Attorney General. The Attorney General’s website has further information regarding the criteria, as well as registration and financial report forms.
If your organisation will have any form of workers, you must register with the Illinois Department of Employment Security.
Employer registration is simple and may be done online. On the Illinois Department of Employment Security website, you may also find contact information for your local workforce commission.
To comply with federal requirements governing 501(c)(3) organisations, you must make the following papers available to any member of the public who wants them:
Your company is NOT required to share the following papers or information with the general public: