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Nonprofit chairman at 17 yrs old

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  • Nonprofit chairman at 17 yrs old

    Texas

    My nephew started a nonprofit corporation and is 17 -- can he still be the chairman of the board and CEO?

  • #2
    Re: Nonprofit chairman at 17 yrs old

    Why do you care?

    Let him deal with his own legal issues.

    Comment


    • #3
      Re: Nonprofit chairman at 17 yrs old

      Originally posted by neko100 View Post
      Texas

      My nephew started a nonprofit corporation and is 17 -- can he still be the chairman of the board and CEO?
      Probably, but I doubt that (as a minor) he will get past just putting it on paper.

      People tend not to do business with minors because minors can disavow their contracts.

      Comment


      • #4
        Re: Nonprofit chairman at 17 yrs old

        Originally posted by adjusterjack View Post
        Probably, but I doubt that (as a minor) he will get past just putting it on paper.

        People tend not to do business with minors because minors can disavow their contracts.
        Yes I think that may be an issue as well.
        He could have a family member assist...there are several that are willing to help him until he comes of age.

        I'll suggest it.


        He will also be meeting with a nonprofit lawyer in two weeks but we are going through the issues that he wants to discuss.

        Thanks for the response!

        Comment


        • #5
          Re: Nonprofit chairman at 17 yrs old

          What is the nature of this non-profit? What does he plan to accomplish with it.

          How soon will he be 18?

          Seeing a lawyer is an excellent idea.

          After that he should see a CPA.

          He will have to get approval from the IRS under 501(C)(3) for tax exempt status.

          Any entity can be non-profit (not make any money) but there are special requirements to be tax exempt.

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