|"I have found Ms. Wallace to be highly knowledgeable,
professional and fair-minded. She has worked diligently for
the non-profit I serve and guided us smoothly through several
difficult legal matters. I feel confident knowing that Ms. Wallace
is our counsel and I look forward to a continuing business relationship
with her. I highly recommend her."
- Board Member, a Virginia tax-exempt organization
"The Virginia-based 501(c)(3) volunteer organization I
work with has been privileged to have Megan as our attorney
for over five years now. She has guided us through an IRS audit,
drafting corporate and board documents and resolutions, minor
litigation, and general business assistance such as lease review.
Megan has handled all of it very capably, and she works within
any client's budgetary considerations."
- Officer & Board Member, a Virginia
Non-Profit & Tax-Exempt
Wallace Law has helped numerous clients fulfill their passion by
helping them start a non-profit corporation. We will write the Articles
of Incorporation to create the company under state law (Maryland,
Virginia or the District of Columbia). We will also draft the necessary
Bylaws and coordinate the organizational meeting of the initial
Board of Directors. At this organizational meeting, the initial
Board of Directors will adopt bylaws, elect officers, and transact
any other business that may come before the meeting.
The key to starting a non-profit entity is knowing
whether or not you intend to pursue tax-exempt recognition for the
corporation. If so, then it is critical that the Articles
of Incorporation and the Bylaws be carefully drafted to the specifications
of the Internal Revenue Service (IRS). Wallace Law is highly skilled
in drafting these corporate documents and, most importantly, can
guide the new business through the complex process of applying with
the IRS for tax-exempt status. We can determine whether or not your
company would be considered a private foundation or a public charity.
The differences are significant. Wallace Law can complete the Form
1023, file it with the IRS, and follow the application through its
review until it is approved.
Once the entity has received tax-exempt status then it is imperative
that the organization operate in compliance with its governing documents
and the strict requirements of the IRS. We can counsel your company
regarding ongoing compliance matters throughout the life cycle of
the organization. Whether you have concerns about
volunteer activities, properly documenting charitable donations
or unrelated business income tax (UBIT), Wallace Law can help you
every step of the way.
Our clients have included individuals, businesses, charitable and
philanthropic foundations, religious institutions, and private schools.
Wallace Law can also help you establish a donor advised fund within
the local community foundation.
Contact us today to see how we
can help you.