To qualify as a tax exempt charitable organization an entity must be organized and operated primarily for exempt purposes, no part of its net earnings may inure to the benefit of any private shareholder or individual, and must refrain from electioneering and substantial lobbying activities. 501(c)(3) includes organizations organized and operated exclusively for purposes that are charitable, religious, scientific, testing for public safety, literary, educational, fostering amateur sports competition, or preventing cruelty to children or animals.
Please note above whether the organization will be organized and operated for one or more of the exempt purposes described above. Please describe whether the purpose will be charitable, education, scientific or religious.
A nonprofit corporation may have one or more directors and no more than 49% of the directors on the board of a public benefit corporation may be “interested persons”. An “interested person” is (i) any person compensated by the corporation for services rendered to it within the previous 12-months, whether as a full-time or part-time employee, independent contractor excluding any reasonable compensation paid to a director as director; and (ii) any brother, sister, ancestor, descendant, spouse, brother-in-law, son-in-law, daughter-in-law, mother-in-law, or father-in-law of such person.