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Starting a School

From Doug Halladay, for About.com

3 of 10

Incorporation and Tax Exemption

Brightwater School

Brightwater School

Photo © Brightwater School
File incorporation/society papers with appropriate Province or State agency. The lawyer on your Steering Committee will deal with this. Establishing incorporation will limit liability in the case of lawsuits, create a stable image, extend the life of the school beyond the founders, and provide an insurable entity. Your school will need to apply for federal 501(c) (3) tax-exempt status using IRS Form 1023. A 3rd party lawyer should be consulted. Submit as early in the process your tax exemption application with appropriate authorities to obtain your non-profit status. You can then begin to solicit tax deductible donations.

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