How can a nonprofit organization be dissolved?

When a nonprofit organization no longer has a purpose, it may be necessary to dissolve the organization. In New York, the process for dissolving a nonprofit organization is highly regulated by the state, and the process must be done in accordance with state law. The first step is to provide notice of the intention to dissolve. This notice should include the date of dissolution, the name and the purpose of the organization, and the address of the principal office. The notice should be posted in a newspaper of general circulation and emailed to all members and donors. The next step is to make provisions for the assets of the organization. These assets must be transferred to another tax-exempt nonprofit organization or to a government entity. If the assets are transferred to another nonprofit organization, the organization must be qualified to receive tax-exempt donations under the Internal Revenue Code and must agree to use the assets only for their charitable purpose. Finally, the organization must file a dissolution letter with the Secretary of State. This letter should include the date when the dissolution was approved, a description of the assets that were transferred to another tax-exempt organization or government entity, and a statement that the dissolution was approved with the required vote of the members or directors. Once the letter has been submitted, the nonprofit is officially dissolved.

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How can a nonprofit organization be dissolved?

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