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At Party Fairy Productions LLC, we believe that every celebration deserves a personal touch. Founded in 2021, our mission has been to provide high-quality, customized party favors that make your events stand out. Our team is passionate about creativity and dedicated to bringing your party vision to life.
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Here is a step-by-step guide to forming a non-profit organization in Richmond, VA, including relevant government sites, pricing, and expected timeframes:
Step 1: Choose a Name for Your Non-Profit
1. Ensure the name is unique: Check the availability of your desired name through the Virginia State Corporation Commission (SCC).
- [Virginia SCC Name Check](https://cis.scc.virginia.gov/Name/Reservation)
Step 2: Incorporate Your Non-Profit
1. Prepare Articles of Incorporation: Include the organization's name, purpose, and structure.
2. File with the Virginia SCC:
- Fee: $75
- [Articles of Incorporation Form](https://www.scc.virginia.gov/pages/Virginia-Nonstock-Corporations)
- Timeframe: Typically 2-3 weeks.
Step 3: Apply for an Employer Identification Number (EIN)
1. Apply with the IRS: This is necessary for tax purposes.
- [IRS EIN Application](https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online)
- Fee: Free
- Timeframe: Immediate if applied online.
Step 4: Draft Bylaws and Hold Initial Board Meeting
1. Bylaws: Create governing rules for your non-profit.
2. Initial Board Meeting: Elect directors and officers, approve bylaws, and set up initial operations.
Step 5: Register with the Virginia Department of Agriculture and Consumer Services (VDACS)
1. Charitable Solicitation Registration: Required if soliciting donations.
- [VDACS Registration](https://www.vdacs.virginia.gov/all-forms.shtml#cpa)
- Fee: Varies based on anticipated donations.
- Timeframe: Typically 2-4 weeks.
Step 6: Apply for Federal Tax-Exempt Status
1. File Form 1023 or 1023-EZ with the IRS: Depending on the size of your organization.
- [Form 1023](https://www.irs.gov/forms-pubs/about-form-1023)
- [Form 1023-EZ](https://www.irs.gov/forms-pubs/about-form-1023-ez)
- Fee: $275 for Form 1023-EZ, $600 for Form 1023.
- Timeframe: 2-12 months.
Step 7: Apply for Virginia State Tax-Exempt Status
1. File with the Virginia Department of Taxation:
- [Virginia Tax Exemption Application](https://www.tax.virginia.gov/)
- Fee: Free
- Timeframe: 1-2 months.
Step 8: Additional Permits and Licenses
1. Local Permits: Check with Richmond City for any additional local requirements.
- [Richmond City Permits](https://www.rva.gov/planning-development-review)
Step 9: Establish a Bank Account
1. Set Up: Open a bank account in the name of your non-profit organization.
Step 10: Compliance and Ongoing Filing Requirements
1. Annual Registration: File annually with the SCC.
- [Annual Registration Fee](https://www.scc.virginia.gov/pages/Virginia-Nonstock-Corporations)
- Fee: $25
- Timeframe: Ongoing.
Summary of Costs
- Virginia SCC Incorporation Fee: $75
- IRS EIN Application: Free
- IRS Form 1023/1023-EZ: $275-$600
- VDACS Registration Fee: Varies
- Virginia Tax Exemption: Free
- Annual SCC Registration: $25
Total Estimated Timeframe
- Initial Setup: 2-3 months
- Tax Exemption Approval: 2-12 months
This guide provides a general overview.
For more detailed information, consult with a legal professional or non-profit consultant.
www.partyfairyproductionsrva.com
804-659-5656