Welcome to CV ASHI!
Happy New Year!!
Join us January 14th at 6:30pm for our monthly educational meeting
ASHI Inspection World New Orleans 2020 Jan 19-22 Hyatt Regency
Your Chance to meet over 100 Exhibitors showcasing the newest products for home inspections.
All your state and ASHI CE credits for the year in one event.
- First you need Articles of Incorporation as a non-profit, also referred to as the certificate of incorporation or the corporate charter. This document acts as a charter to establish the existence of a corporation in the United States and is filed with your State Secretary of State. This can be done online and will need to be renewed every few years. Each state is different.
- Second, once incorporated, the chapter needs a Federal Employer Identification Number (FEIN). This can be completed online at irs.gov.
- Step three: Once you get incorporated in your state and get your FEIN, you need to file a form 1024 with the IRS to get tax exempt status. It takes about 6 weeks, once filed. Help with this is available.
- Step four: The chapter needs to file a form 990N which is the tax return for a non-profit that has total revenue under $50,000. If the chapter’s revenue is between $50,001 and $250,000 they must file a 990-EZ. This must be done within five (5) months of the close of the chapter’s books. Most have a December 31 year end, therefore the 990 must be filed by the end of May.
- NOTE. If a chapter has NOT filed a 990 tax return with the IRS within the past three years, they must start all over by filing form 1024.
Finally, totally separate from above, in order for a chapter to take advantage of the FREE D&O insurance, it must file its financials with ASHI headquarters by the end of January each year. This is a requirement of the insurance company, not ASHI.