The first step in our comprehensive guide, How to Start a Charitable in New Mexico, is to choose a name for your 501(c)(3) nonprofit organization. Choosing the correct name is one of the most essential choices any entrepreneur will make. We’re here to assist with our comprehensive guide on selecting, verifying, and registering a charity name in New Mexico in four simple stages.
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In 4 Simple Steps, Name Your Nonprofit
It is simple to name your New Mexico nonprofit. Simply follow these four easy steps to get the greatest name for your 501(c)(3) organization (3).
GO AHEAD.
Step 1: Select an Appropriate Name for Your Nonprofit
Step 2: Adhere to New Mexico’s Nonprofit Naming Regulations.
Step 3: Determine whether your company’s name is available.
Step 4: Register the Name of Your Nonprofit
Step 1: Select an Appropriate Name for Your Nonprofit
It is critical to choose the correct name for your firm. We suggest following these recommendations when selecting a name that best symbolizes your nonprofit’s goal and purpose:
Make your point. The name of a charity should be straightforward and detailed enough to express its objective. Avoid employing ambiguous phrases or concepts that may mislead funders and potential customers about the objective of your organization.
Make it unforgettable. When choosing a name for a firm, rememberability is critical. Choosing a name that will stay in the minds of individuals who hear it can not only increase your nonprofit’s awareness among contributors and volunteers, but will also make it simpler for prospective customers to locate your services.
Maintain a professional demeanor. Nonprofits depend largely on their public image to attract funders or consumers who may need their services — and their initial impression will be based on the name of your organization. As a result, your organization need a professional name that conveys a genuine commitment to its goal and purpose.
Make it personal. Whether your organization serves animals, displaced people, or any other group, emotion and compassion are inextricably linked. Choosing a name that appeals to the emotions of both contributors and customers can aid in the development of trust and the legitimacy of your company.
Before you begin studying their availability, we suggest that you choose at least four to five names that meet your requirements. This method increases your chances of obtaining a distinctive and accessible name.
Step 2: Adhere to New Mexico’s Nonprofit Naming Regulations.
Most organizations in New Mexico are structured as companies, however there are four alternative methods to incorporate a nonprofit: a trust, a limited liability corporation, or an unincorporated organization (LLC). You must adhere to specified naming standards for each choice.
This article will concentrate on the prerequisites for naming a nonprofit company.
Requirements for a Company Name
The most frequent technique to create a nonprofit is to incorporate. While corporate name restrictions vary by state, several criteria apply worldwide. New Mexico’s state standards include the following:
Your corporation’s name must be distinct from any other name on file in New Mexico, including any reserved names.
The name of your company cannot indicate anything other than the purpose mentioned in the Articles of Incorporation.
In contrast to many other jurisdictions, New Mexico does not require nonprofit companies to contain identifiers like “incorporated,” “limited,” “company,” or any analogous acronym.
Requirements for Tax Exemption
Pay special attention to the terminology of your nonprofit’s name if you want to apply for tax-exempt status with the Internal Revenue Service (IRS). Any statements that indicate a political or lobbying connection may make it difficult for you to apply for 501(c)(3) status.
Step 3: Determine Whether Your Business Name Is Available
After you’ve decided on one or more names for your organization, check to see whether they’re still available. Every charity must have a distinct name, therefore it’s a good idea to check the availability of your preferred name before incorporating.
The top four searches you should do are as follows:
New Mexico Business Lookup
Domain Name Lookup
Federal Trademark Lookup
Search the Web and Social Media
New Mexico Business Lookup
A nonprofit company in New Mexico must have a distinct name. You may quickly verify whether your desired name is available by utilizing the New Mexico Business Search tool.
Domain Name Lookup
We highly advise you to additionally check to see whether your company name is accessible as a web domain (URL). Even if you don’t intend to construct a company website right away, you should purchase the domain name to prevent others from gaining it. It’s a completely free search.
Federal Trademark Lookup
Using the federal Trademark Electronic Search System, you may quickly see whether your preferred charity name has already been trademarked. Even if you do not intend to incorporate a nonprofit right away, this is essential.
You may register for a trademark for your organization after you have confirmed that no one else has previously trademarked your selected name.
Search the Web and Social Media
A good social media presence can help you reach out to prospective contributors or customers who will employ your services. As a result, before registering your preferred name, check the web and prominent social media platforms for it to confirm it is accessible on all platforms where you want to advertise your group.
Step 4: Register the Name of Your Nonprofit
After you’ve decided on a name for your charity and confirmed its availability, the following step is to register the name. You have many choices for registering your name:
Apply for a Corporation Name Reservation
Request a Name Reservation
Domestic nonprofit companies in New Mexico are not needed to register for a name reservation prior to formation. However, reserving a name might be advantageous, particularly if you aren’t ready to incorporate but want to assure the availability of your preferred name.
To make a name reservation in the state of New Mexico, follow these steps:
Send a completed Application for Reservation of Name, together with a $25 filing fee, to the New Mexico Secretary of State.
Name reservations for nonprofit companies in New Mexico are valid for 120 days and may be renewed.
Create a Corporation
Incorporating is the most frequent method to create a charity, and it is the next step in making your organization official once you have chosen a name. In New Mexico, forming a company is as simple as the following steps:
Name Your Business
Select a Registered Agent
Select the Initial Directors and Share Structure for Your Corporation
Deposit the Formation Documents
Obtain an EIN