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.

During the past six months, the company has opened two offices in Florida – one in Jacksonville in December and another in Fort Lauderdale in early May.

BB&T Scott & Stringfellow said Monday it is pursuing plans to expand in the Southeast and mid-Atlantic regions.

The company expects to open a new office in the Baltimore suburb of Hunt Valley, Md., later this year and is considering locations in Kentucky, Texas and Alabama for other offices.

Scott & Stringfellow was formed May 20, 1893, by Frederic William Scott and Charles S. Stringfellow Jr.

The firm became part of North Carolina-based BB&T Corp. in 1999. 

Earlier this year, as part of a rebranding effort, the names was changed to BB&T Scott & Stringfellow.

BB&T Scott & Stringfellow is a division of BB&T Securities, LLC, which has 38 offices in Virginia, West Virginia, North Carolina, South Carolina, New Jersey, Georgia, and Florida.

Mounds of red clay and men on earthmovers flanked the entrance to the two-story, concrete and glass building, located on 17 acres of state-owned land at 2401 West Leigh Street, near the Science Museum of Virginia.  The 40,000-square-foot building will house the Redskins locker room and training facilities on the first floor and Bon Secours Sports Medicine on the second floor, along with space that will be available to lease. 

“This project is on schedule and on time,” declared Richmond Mayor Dwight Jones to a group of about 120 members of the media who turned out for a hard-hat tour.  The yellow goal posts on the two football fields are up, and sod for the fields was installed last week. 

According to the city, it took 215,000 square yards of sod for the two full-size fields and one drill field.

The Richmond Economic Development Authority is building the $10.8 million facility, and Bon Secours has committed to a 10-year sponsorship package that includes $3.2 million for the naming rights. The camp, which will run for three weeks from July 25 through Aug. 16, is expected to attract more than 100,000 fans and reap an economic impact of $8.5 million annually. 

Admission is free with the highlight of the season expected to be Fan Appreciation Day on Aug. 3.

Asked if Richmond would have enough hotel rooms and parking for the expected large crowds, Mayor Jones responded that the metro area offers 17,000 hotel rooms, and that local businesses are looking forward to the opportunities that should come with increased tourism from the camp.  The city plans to use shuttles to get people to and from parking lots if necessary.

Just don’t expect to see too many of the players goofing off around town. Bruce Allen, executive vice president and general manager of the Redskins, said in an interview with the press that “camp starts at 6 a.m., and it goes until 10 p.m. at night. Being in the same hotel, living together. It creates a strong bond. Only four Super Bowl winners didn’t have a camp for summer training,” noted Allen.

Allen called the camp’s location “perfect.  We’re centrally located and 500 miles from most of the country’s population, which makes the camp accessible to our fans.”

As for quarterback Robert Griffin’s ability to participate in summer camp training following a knee injury earlier this year, Allen said it was too early to tell. “He’s doing everything the doctors want him to do. He’s a hard worker,” Allen added, and the team is hoping he will be able to play.  Allen said Griffin will be given a physical prior to the start of camp to see if he is ready to play.  The Redskins’ star quarterback also plans to be married on July 6.
 
During the 48 weeks when camp is not in session, Peter J. Bernard, CEO , Bon Secours, Virginia Health System, said the facility would be used to bring new community education and health programs to the community such as a program called “movin mania,” an initiative designed to combat childhood obesity.  There also will be a sports medicine rehabilitation and men’s health center on the property year-round.
Hourigan Construction broke ground on the project Jan. 9. 

The architect on the project is 3North and the Timmons Group.