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Formation Process

Can we form the nonprofit and run programs before we open a bank account?

You can begin planning and organizing, but handling funds without a dedicated bank account is risky. It’s best to open the account as soon as you have an EIN.

More in Formation Process

Do we need to register for state taxes even if we’re tax-exempt federally?What’s the difference between an “incorporator statement” and board minutes?What should we do if we already collected funds personally for the project before formation?Can we form a nonprofit for a single annual event?

Talk it through with an attorney.

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