Question:
How do we change HOA to non profit status
– Millie
Answer:
Hi Millie,
All homeowners associations formed after January 1, 1999, in North Carolina must be organized as a nonprofit corporation as per Section 47F-3-101 of North Carolina law. However, this does not mean that HOAs are afforded tax-exempt status. To apply for tax-exempt status, the IRS website provides information here and here.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
