How to Start a Non-Profit Company in Wyoming

Question from Ralf, How to Start a Non-Profit Company in Wyoming

Answer from AI:

Starting a non-profit organization in Wyoming involves several steps, from defining your mission to complying with state and federal regulations. Below is a general guide to help you understand the process. Remember, it’s important to consult with a legal professional for personalized advice.

1. Define Your Mission and Purpose

Before you begin the formal process, clearly define the mission and purpose of your non-profit. This will guide your activities and help you communicate your goals to potential supporters and donors.

2. Choose a Name for Your Non-Profit

– Ensure the name is unique and not already in use by another entity in Wyoming.
– The name should comply with Wyoming’s naming requirements for non-profits.

You can check name availability through the Wyoming Secretary of State’s website.

3. Appoint a Board of Directors

– Wyoming requires at least three directors to form a non-profit board.
– Directors should be individuals who are committed to the mission of the organization.

4. File Articles of Incorporation

To legally form your non-profit, you must file Articles of Incorporation with the Wyoming Secretary of State. This document should include:

– The non-profit’s name and address.
– The purpose of the organization.
– The names and addresses of the initial directors.
– A statement that the organization will not engage in activities that are not permitted for a non-profit.

You can find the necessary forms and filing instructions on the [Wyoming Secretary of State’s website](https://sos.wyo.gov/).

5. Create Bylaws

Bylaws are the internal rules that govern your non-profit. They should cover:

– How directors are elected.
– How meetings are conducted.
– The roles and responsibilities of officers and directors.

6. Apply for an Employer Identification Number (EIN)

An EIN is required for tax purposes and can be obtained from the IRS. You can apply online through the [IRS website](https://www.irs.gov/).

7. Apply for Federal Tax-Exempt Status

To be recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, you must file Form 1023 or Form 1023-EZ with the IRS. This process involves:

– Providing detailed information about your organization’s structure and activities.
– Paying the applicable filing fee.

8. Register for State Tax Exemptions

Once you have federal tax-exempt status, you may also need to apply for state tax exemptions in Wyoming. This can include exemptions from sales tax and property tax.

9. Comply with Ongoing Reporting and Compliance Requirements

– File annual reports with the Wyoming Secretary of State.
– Submit annual returns to the IRS (Form 990 series).

10. Additional Considerations

– Fundraising: Ensure compliance with any state-specific fundraising regulations.
– Licenses and Permits: Depending on your activities, you may need additional licenses or permits.

When to Seek Legal Advice

Starting a non-profit involves complex legal and tax issues. It is advisable to consult with a legal professional or a non-profit consultant to ensure compliance with all applicable laws and regulations. They can provide guidance tailored to your specific situation.

For more detailed information, you can refer to resources provided by the [National Council of Nonprofits](https://www.councilofnonprofits.org/) and the [IRS Charities and Nonprofits](https://www.irs.gov/charities-and-nonprofits) page.