WHAT IS A NON-PROFIT ORGANIZATION?
A non-profit organization is an association or corporation whose primary objective is to operate a business for the benefit of the general public, without shareholders, and without a motive for making profit. A primary difference between a non-profit organization and a profit making company is that a non-profit organization does not issue stock or pay dividends nor does it enrich its directors.
TYPES OF NON-PROFIT ORGANIZATIONS
Non-profit organizations are active in a wide range of areas, including the environment, the arts, social issues & charities, early childhood education, health care, politics, religion, research, associations, sports or other endeavours.
THE DOCUMENTS REQUIRED FOR INCORPORATION
- The Articles of Incorporation (Company limited by guarantee without a Share Capital) (Form 1B): This document basically sets out the name of the company, articles, the guarantee, number of directors and any restriction on the activities the company may carry on. This also outlines the objects and powers of the organization and the rules governing the non-profit entity.
- Stamp duty must be paid on the Articles, and this service is offered at the Companies Office of Jamaica.
- The Business Registration Form (BRF1)/ Superform: This document sets out the name of the company, registered office, name of directors and the principal director, the company secretary and completes the application for the company’s NIS, TRN, NHT, HEART and TCC registrations.
The cost to register same is $24,500 which will have a processing time of 4 working days. The Companies Office of Jamaica also provides a Next day express which attracts an additional $3,000 (available from 8:30am to 1pm) and a same day express processing which is an additional $6,000 (Available 8:30am to 9:30am).
When your non profit company is incorporated you will take the
- Certificate of Incorporation and
- A certified Copy of your Articles of Incorporation and the charitable status application form
to the Department of Cooperatives and Friendly Society to request your charity status.
See our article: What Qualifies As a Charity, According to Jamaican Laws?
See a list of registered charities in Jamaica: Tax Administration Jamaica’s List of Registered Charities OR Companies Office of Jamaica listing
Source: THE STAR, Jamaica’s Charities Act, Tax Administration Jamaica