At Sage Law Firm, we offer comprehensive assistance and services to nonprofit and exempt organizations navigating the dissolution process. Our experienced attorneys help clients with every step of the process with confidence and ease, ensuring the organization is conclusively closed across all agencies.
Consultation and Planning: We conduct a thorough consultation with the organization’s leadership to understand the reasons for dissolution and evaluate the best course of action. We develop a strategic plan tailored to the organization’s objectives. We provide guidance on legal requirements, procedural steps, and fiduciary duties involved in the dissolution process.
Legal Compliance: We assist organizations in fulfilling all legal and regulatory requirements associated with the dissolution process. This includes preparing and filing dissolution documents with the appropriate state and federal authorities, such as articles of dissolution and notices to creditors and stakeholders. We ensure that organizations comply with all applicable laws and regulations to avoid potential liabilities and penalties.
Asset Distribution and Disposition: We help organizations navigate the distribution of assets and liabilities in accordance with state and federal laws and regulations. This may involve transferring assets to other nonprofit organizations, liquidating assets, paying debts and liabilities, and distributing remaining assets to charitable purposes or beneficiaries as required by law.
Notification and Communication: We guide organizations in communicating with stakeholders, including board members, employees, volunteers, donors, creditors, and regulatory agencies, about the dissolution process. We keep them informed of progress and outcomes in compliance with appropriate procedures.
Compliance with Tax Laws: We ensure that organizations comply with all tax-related obligations associated with the dissolution process. This includes filing final tax returns, obtaining tax clearance certificates, and addressing any outstanding tax liabilities or obligations with the Internal Revenue Service (IRS) and state tax authorities.
Recordkeeping and Documentation: We assist organizations in maintaining accurate records and documentation throughout the dissolution process, ensuring compliance with legal and regulatory requirements.
Post-Dissolution Compliance: We provide guidance on post-dissolution compliance requirements, such as winding up affairs, filing final reports and statements, and terminating legal existence. We ensure that organizations fulfill all post-dissolution obligations to close out their affairs properly and avoid any lingering issues.
