Illinois form nfp 2025

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All Illinois corporations, LLCs, nonprofits, and LPs must file an annual report each year with the Illinois Secretary of State, Department of Business Services. In addition to filing an annual report, every corporation must also pay an annual franchise tax.
Statutory business entities which include business corporations, nonprofit corporations, limited liability companies (LLCs), limited partnerships (LPs), and limited liability partnerships (LLPs) are generally required to file an information report with the business entity filing office of their formation state and
The IRS generally requires a minimum of three board members for every nonprofit, but does not dictate board term length. What is important to remember is that board service terms arent intended to be perpetual, and are typically one to five years.
by unanimous written consent of the members entitled to vote on dissolution. by action of the directors followed by a vote or other consent of the members; or. if your nonprofit doesnt have members entitled to vote on dissolutionand has no unpaid debtsby a vote or other consent of the directors.
In Illinois, creating a nonprofit organization or association has starting costs of: Articles of Incorporation: $50 via mail or $77.75 online + expedite fee $100 (optional) Form REG-1: Cost is dependant on state tax accounts. 501(c): $275 or $600 IRS fee.
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In Illinois, each nonprofit is governed by a board of directors. The board must have at least 3 people.
Any number of offices may be held by the same person unless the articles or bylaws provide otherwise, except that no person serving as the secretary, the treasurer, or the chief financial officer may serve concurrently as the president or chair of the board.
There must be at least three directors. They do not have to be Illinois residents or corporation members, but you may require these and any other qualifications you choose.

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