Not-For-Profits (NFPs) can be set up under a number of different structures. The structure that is suitable for one organisation might be unsuitable for another. Are you wanting to run a NFP for charitable purposes or a particular cause?
An unincorporated association may be a good option for a small group of people who have come together with a passion for a particular cause. However, as they grow, they might want to look at other structures that provide greater protection and more flexibility. Examples include charitable trusts, companies limited by guarantee and incorporated associations. A deductible gift fund might also be an option for your organisation. There is a myriad of factors that may need to be considered before deciding on the best structure, including size of operations, membership base, regulatory obligations, location of operations and source of funds.
Regardless of the structure chosen, it is important to carefully consider the wording in your governing documents. The governing documents will significantly impact on whether or not you are a NFP or a Charity and whether or not you are entitled to the various tax concessions, including income tax exemptions.
Your Specialists in Not-For-Profit & Charities Sector
We are specialists in the NFP & Charities area and can guide you through the maze of establishing and registering a NFP entity. We can also assist you with your major donors so they can give donation to you in the most tax effective way possible. This might include the establishment of a private ancillary fund or a charitable trust..