Cook & Cook
What Is a Charitable Organization According to the IRS?
Aside from the restrictions as to the purposes that a particular nonprofit serves, perhaps the most important restrictions imposed by IRC 501(c)(3) are the broad prohibitions as to influencing legislation or participating in political campaigns.
- Must file an annual report
- Must hold an annual meeting with written minutes
- Must elect officers.
- Doesn’t need to file an annual report
- Doesn’t need to hold an annual meeting
- Doesn't need to elect corporate officers.
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Read Alex Levin's, "Nonprofits: The Legal Requirements of Starting Your Own"