How to Dissolve a Nonprofit Corporation
- Vote for Dissolution. 501(c)(3) dissolution involves having your nonprofit organization officially vote for dissolution of the corporation.
- File Form 990.
- File the Paperwork.
- Check with the Attorney General.
What happens to the money when a non profit dissolves?
Donating to a Like Cause. After the dissolving 501(c)(3) settles its debts, it may not transfer any remaining funds to shareholders or board members of the organization. When a 501(c)(3) organizes, it must include a provision in its charter defining how it will distribute any leftover assets when it dissolves.
How do I dissolve a nonprofit in Colorado?
To dissolve your corporation in Colorado, you must submit the completed Articles of Dissolution form online at the link furnished below. You enter your entity name, confirm that you are authorized to dissolve your corporation, select the Articles of Dissolution and fill in the required fields.
How do I dissolve a nonprofit in NY?
State Tax Clearance. You ultimately must file a certificate of dissolution to complete the dissolution of your nonprofit. However, before you can file the certificate, you need to get the consent of New York’s Department of Taxation and Finance (“DTF”).
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