Forming a nonprofit organization can be perfect for people who want to be their own boss and devote their work to charitable causes. A nonprofit is established just like a for-profit enterprise, with the additional step of applying for tax-exempt status with the Internal Revenue Service.

In Virginia, nonprofits must:

- Be registered as either a non-stock corporation or a limited liability company (LLC).

- Register with the Virginia Department of Agriculture and Consumer Services for the ability to raise funds.

- Obtain a local business license, and, if required, register with the Virginia Department of Taxation.

A nonprofit organization becomes tax-exempt (allowing individuals and businesses who donate to the organization to deduct their gifts on their federal tax returns) by filing an application to become classified as a 501(c)(3) organization.

Necessary forms include IRS Form 8718 and IRS Package 1023. For instructions on filling out these forms, read IRS publication 557, Tax-Exempt Status for Your Organization.
All IRS forms can be obtained by calling (800) TAX FORM or downloading them from http://www.irs.gov.

The Business Information Center of the VDBA can e-mail you a step-by-step explanation with live links to numerous resources and all required forms and instructions. Call (866) 248-8814 to request nonprofit instructions or e-mail your request to vbic@vbda.virginia.gov.

Business One-Stop to be unveiled in 2008

Starting a business in Virginia will become easier in early 2008 when the online “Business One-Stop” is introduced.  Entrepreneurs accessing the one-stop site will need to answer only a few simple questions to receive detailed information on the registrations, licenses and permits required.

Debut date of the new “Business One-Stop” will be announced on the Virginia Department of Business Assistance Web site, http://www.vdba.virginia.gov and the Virginia Business

Portal, http://www.business.virginia.gov.

RMH has been evaluating health systems since the beginning of the year, according to RMH Chair Barbara B. Stoltzfus.

“The current economics of healthcare make it difficult for independent community hospitals like RMH to survive and thrive in the long term,” she said. “The RMH Board recognized that to ensure the future of high-quality healthcare for our community, we would need to seek a larger health system with whom to affiliate. We also realized that the time to seek affiliation was when we were fortunate to be in a strong position.”              

Stoltzfus said it had considered 10 systems and chose RMH because it was also a nonprofit organization and had the services, technology and financial strength.
                                           
The boards of directors of both organizations have signed a letter of intent to proceed with negotiations and a regulator review that will take six months or more. The hospitals will likely affiliate in early 2011.

Under the agreement, Rockingham Memorial Hospital will retain its name and neither organization will undergo any layoffs.