Until your nonprofit reaches a significant size, you will not be employing a full-time attorney and therefore need to turn to professionals who understand how to administer and manage the board, understand nonprofit property tax exemption in Minnesota and how to retain the nonprofit’s tax-exempt status.
Your Board May Not Agree
When your nonprofit organization is managed and governed by a board of directors, they are not all going to agree on every activity and decision-making processes.
When conflict is reached, there must be decisions in place of how and who makes your final decisions. This may be an activity that is best managed by a non-profit attorney so they can liaise with your board and explain the legal and financial duties throughout the due process.
Property Tax Exemption Rule
When your charity decides that it requires its own home, working closely with your nonprofit attorneys, they will explain nonprofit property tax exemption in Minnesota so that any property decisions you make will help you remain as a compliant and regulated non-profit organization.
Purchasing or leasing a property will take your nonprofit into areas that you may not have explored or considered previously. For nonprofit property tax exemption in Minnesota, your attorneys will liaise with the IRS to ensure that your activities work within your policies and mission statement.
Keeping Inside Your Tax-Exempt Status
Retaining your tax-exempt status is important both for your nonprofit organization and those making donations to your good causes. Working closely with your attorney, they will ensure that all your fundraising activities are matched carefully with the management of risks associated with all your fundraising decisions.
As an individual, you would probably not enter a contract concerning property, whether to purchase or lease, without using the services of an expert professional. When you are operating as an official of a non-profit organization, it is not your money that is going to be invested or used which makes it more important that your attorney helps you remain compliant with all the rules regulations and laws applicable.
