The first step to forming your nonprofit is to give it a distinguishable and unique name that is in line with your core mission statement. There’s no rule when it comes to naming your nonprofit, however, you need to include words after your name like “association,” “company,” “foundation,” “institute,” “union,” etc. You may also use abbreviations instead like “co.”, “inc.” and “ltd.” There are more instructions on the Certificate of Incorporation form which is linked in Step 5.
Just remember your chosen nonprofit name should be distinguishable and not already registered by another nonprofit or business. To check for naming conflicts prior to filing, you can use the Oklahoma Secretary of State’s Business Entity Search. If needed, an Application for Reservation of Name can be submitted that’s good for up to 60 days.
Filing Fee: $10
An Oklahoma Registered Agent is a mandatory requirement. They act as a representative, or legal appointee, of your non-profit whose job it is to receive and help process all important documents, especially state filings. Some basic criteria includes:
You can hire an outside professional service and expect to pay up to $160/year, or get a Registered Agent free of charge when you incorporate through filing services like IncFile or BizFilings. They handle this and more depending on your startup package.
By definition, all an incorporator does is sign and “execute” the formal Articles of Incorporation and submit them to the state, which requires a minimum of three. As for your temporary directors, you’ll need to select/recruit a minimum of one. Among other important duties it’s their job to oversee the non-profit corporation/organization during the formation process until your first board meeting in Step 7 where official directors will be voted on/in.
If this is all brand new, be sure to print out a copy of the OK guide To Starting a 501 (c) (3) Organization straight from the Oklahoma Center for Non-Profits. It’s got tons of helpful information if you don’t have someone guiding your way through this part of the process.
Incorporated non-profits need to have bylaws, or rules and regulations, that first and foremost determine how it’s governed. They also state the mission of the non-profit and steer it’s course. They’re essential! Common bylaws touch on topics like:
If this is all new to you, use a savvy Corporate Bylaws Template which you can customize for your non-profit and get an idea of the paperwork-side of bylaws.
Once you and your team decide it’s time to form and fully incorporate in the eyes of the law/public record, file your non-profit Certificate of Incorporation with the Sec. of State either through mail or online. Information you’ll need includes:
Filing Fee: $25
What we’re talking about here is a physical book, or some call it a binder, where you put copies of the most important documents that comprise your non-profit organization: formation/registration, core licenses & permits, minutes of meetings, big contracts, annual reports and taxation documents, etc.
To get one for your non-profit you can grab a quality records book at any nearby office supply store, order them online through Amazon, or get a professional Corporate Kit which let you brand the book/slip case, provide blank certificates, and more for as little as $99.
The first board of directors meeting is also known as the organizational meeting and one of the most important meetings that you can ever hold as a nonprofit. During the first meeting, the following agenda will be discussed:
Prepare the minutes of the meeting and have it signed by all your board of directors. It must be recorded and kept in your Corporate Records Book for safekeeping.
An EIN, or Employer Identification Number, is required by both state and federal governments for essentially the same reasons individuals are required to have a SSN. It’s a nine-digit number that’s used to track business/non-profit financial activity and makes it possible to open a business bank account, hire paid-employees if needed, and so on.
Almost every transaction your non-profit engages in will require an EIN. That said, you can get one quickly, easily and free of charge by applying online through the IRS Website.
Now it’s time to ensure your non-profit is 100% compliant in terms of not only licenses/permits, but state and federal taxes. You should be able to apply for tax exempt status now that the corporation is established.
A couple other great sites to add to your bookmarks would be the Central Oklahoma Community Foundation and the Oklahoma City District Office of the Small Business Administration because they’re going to have a fair amount of valuable information and resources that can help your non-profit get situated and established.
Since you’re here in this article right now chances are it’s your first time starting a non-profit organization, so you’re probably not aware of everything involved in the business-side of banking. Where you build your non-profit’s financial foundation is important – fees, withdrawal/deposit limits, accessibility, location, credit/debit incentives, online banking options, etc. Don’t just wing this or assume you should set up shop where you personally bank or where one of your officers/directors does.
If you’re interested, this article takes a good look at Non-Profit Checking Accounts and what makes them appealing for new blooming charitable corporations. Shop around!
If you’d like help forming a nonprofit, here are two great options:
Swyft Filings ($49 + state fees) is ideal if you’re on a budget but refuse to sacrifice quality. However if you’d like access to an attorney past nonprofit formation, Rocket Lawyer ($99 + state fees) is the best option.Visit Swyft Filings Or Visit Rocket Lawyer
Note that this article on how to start a non-profit organization in Oklahoma isn’t a legal document or legal advice. It’s for informational purposes and the information above is subject to change. For specific legal questions regarding how to form a non-profit organization in Oklahoma or business in general, please consult with a non-profit/corporate lawyer or other accredited professional.