Difference between revisions of "Incorporation"

Latest revision as of 18:38, 18 August 2011

We as a space, need to become incorporated for several reasons.

Namely, so that we may also attain 501(c)(3) status, which will help us out in getting businesses and others to be able to donate to us. They will be able to get a tax write-off for their donation, which is very beneficial to corporations and individuals as well. Businesses make millions in contributions each year to organizations like ours, and most require this status before they will even think about donating.

Current Status

• Get Articles Of Incorporation together COMPLETE
• Get registered agent and get them set up on our paperwork COMPLETE
• E-file Articles Of Incorporation and pay registration fee COMPLETE
• Corporation status granted to FamiLAB, Tetsu listed as incorporator COMPLETE
• Tetsu will fill out/sign 'Action by Consent of Incorporator' document, which appoints an initial Board of Directors COMPLETE
• Hold first corporation meeting, addressing the following: COMPLETE
  • Propose ByLaws and ratify them COMPLETE
  • Elect a board of officers COMPLETE
  • Agree to open a bank account COMPLETE
  • Agree on membership application COMPLETE
• Look into Liability insurance for the lab NOT STARTED

Steps to 501(c)(3)

• Submit paperwork to Gov. NOT STARTED