A non profit or not for profit corporation is an entity which utilizes the revenue and/or income it generates to promote the non profit’s purposes, programs and activities. In contrast, a “for-profit” entity’s purpose is to distribute the profits it generates to the owners of that entity. A non profit organization may be formed, for example, for the purpose of promoting charitable, educational, religious, or scientific purposes. However, a non profit organization does not necessarily need to be charitable and can serve other functions. For example, a non profit entity may be formed to serve as a fraternal organization, a social or recreational club, a political organization, a business league or trade association, or a homeowners association, just to name some examples. Non profit organizations are usually tax exempt.
Back to Top
How do you incorporate a non profit in Florida?
A non profit corporation is formed by filing articles of incorporation with the Florida Department of State, Division of Corporations. We can assist you in filing the documents which are necessary to establish your Florida “not for profit” corporation.
Back to Top
A Florida non profit corporation is required to have a minimum of three (3) directors. (617.0803, F.S.) However, the By-laws of the corporation may require the non profit corporation to have a greater number of directors.
Back to Top
No, a non profit corporation in Florida is not required to have members. (617.0601, F.S.)
A non profit corporation may or may not be subject to taxation in Florida. However, many non profit corporations are tax-exempt organizations and tax exempt organizations are generally not required to file a Florida corporate income tax return if they do not have federal taxable income. If tax-exempt organizations have federal taxable income, however, they are then required to file a Florida Form F-1120 or F-1120-A and pay any tax due. For further information you should contact the Florida Department of Revenue or seek the advice of an accountant.
Back to Top
