The term “not for profit” is used so loosely that sometimes the lines between a company that has no profit motive and a company that the IRS has determine is tax exempt, gets blurred. Anyone can start a company that is not for profit. But there is substantially more work and focus required to start a company that is not for profit and actually get the IRS to recognize it (meaning, for one thing, that donations are tax deductible.
In helping people put together companies like this, I have created a list that broadly outlines the steps to consider when creating an Oklahoma not for profit company. If you would like a copy of the list, please let me know by email at sjr@shawnjroberts.com and I will email it to you.
