Follow this advice to maintain your Missouri 501(c)(3) Nonprofit Public Charity in good standing.
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8 Ways to Keep Your Nonprofit Legal
In order to keep a 501(c)(3) nonprofit company in Missouri, you must:
Apply for a state tax exemption.
Tax-exempt organisations must file annual federal returns.
Keep a Registered Agent on file.
Submit periodic reports
Request permissions and licences
Register your charity with the Missouri Department of Revenue.
Follow the Public Inspection Rules.
1. Apply for a state tax exemption.
A. Exemption from State Income Tax
When your nonprofit obtains its 501(c) decision letter from the IRS, it is instantly exempt from state income taxes.
B. Exemption from State Sales Tax
Access the Missouri Department of Revenue’s website to see whether your group qualifies for a sales tax exemption. Fill out Form 1746 to apply for a sales and use tax exemption if you are eligible.
2. Tax-exempt Organizations’ Annual Federal Returns
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.”
For gross revenues of $50,000 or more, file Form 990-N.
$200,000 in gross income and $500,000 in total assets —- File 990-EZ
If your gross revenues exceed $200,000 or your total assets exceed $500,000, you must file a 990 form.
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.
3. Keep a Registered Agent.
Any charity that has formed must have a registered agent with a Missouri office location. If your registered agent or office address changes, you must submit Form Corp. 59 with the Secretary of State, either online or by printing and sending the PDF version of the form to the Secretary of State so that your Articles of Incorporation may be changed.
Your company may be terminated if you fail to inform the Secretary of State of this change.
4. Submit Periodic Reports
The Missouri Secretary of State requires charities to file a Corporate Registration Report by August 31st of each year. To submit your report, go to the Missouri Online Business Filing System.
Failure to submit the required reports may result in the termination of your company.
5. Obtain Permits and Licenses
Nonprofits in Missouri do not required to get a regular business licence. You should, however, check with your city/county clerk’s office to see if there are any local restrictions.
If you want to conduct charity gaming (bingo, raffles, etc.), you must first get a gaming licence from the Missouri Gaming Commission.
6. Registration of Charities
Missouri charitable charities must register with the Missouri Attorney General. The Initial Registration Statement may be submitted through the Attorney General’s website.
Each year, your group will be required to file an annual report, and you may find the proper form on the Attorney General’s website.
7. File a tax return with the Missouri Department of Revenue.
If your organisation will have workers, you must register with the Missouri Department of Revenue for withholding and unemployment insurance taxes.
Registration is simple and may be done online. You may also find contact information for the Department of Revenue.
8. Obey Public Inspection Rules
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:
Annual returns for your organisation may be filed up to three years after the due date (including the following Forms: 990-PF, 990-EZ, 990-T, and 990)
Any supporting documentation and attachments for the 990 forms listed above. For Schedule B, however, you simply need to indicate the kind of the gift and the amount given.
Official IRS documentation demonstrating that your group is tax-exempt.
Your organization’s exemption application and any supporting documentation filed with it (including Form 1023).
Your company is NOT required to share the following papers or information with the general public:
Any part of Schedule B of Form 990/990-EZ that names donors.
Anything deemed an adverse judgement, including past rejections of tax-exempt status.
Any extra information that the IRS is entitled to withhold, such as trade secrets, patents, and so forth.