Supporting Non-Profit Organizations in the US Virgin Islands: Rules and Regulations

The U. S. Virgin Islands have specific regulations for supporting non-profit organizations. All corporations doing business in the USVI must file their annual corporate reports and franchise tax reports online, along with supporting financial statements such as a balance sheet and a profit and loss statement.

These reports must be submitted on or before June 30th of each year, including the year of training or registration. The Uniform Law Commission (ULC) is a volunteer organization that does not receive salaries or other compensation for their public service. Since its inception in 1892, the ULC has produced more than 300 uniform laws, focusing on commercial law, family and domestic relations law, probate, probate and trusts, real estate, alternative dispute resolution, and more. Proposals for new laws are received from state bar associations, state government entities, private groups, uniform legal commissioners and individuals. The ULC Outreach and Program Committee assigns these proposals to a Study Committee to investigate the issue and decide whether to recommend that a law be drafted. The ULC follows a meticulous procedure for each act.

Each bill receives a minimum of two years of consideration. Drafting committees meet throughout the year in an open process that draws on the experience of commissioners, legal experts, advisors and observers appointed by the state. All committee drafts are published on the ULC website for review and comment. The bills are presented to the plenary session of the Uniform Law Commission for initial debate at an annual meeting. The ULC Commissioners form a Plenary Committee and carefully consider each act in a deliberative environment.

Each event should be considered section by section at no less than two annual meetings. Once the ULC Full Committee approves a law at an annual meeting, the last step is the vote of the states, with each state having one vote. Most of the states present must pass a law before it is officially passed. After final approval, the ULC's uniform laws are presented for consideration by state legislatures for enactment. To determine the tax-exempt status of an organization in the USVI, contact the local IRS office or ask the organization for a copy of its determination letter.

Additionally, IRS Publication 78 provides an annual list of thousands of tax-exempt organizations to which contributions are deductible as charitable donations. 501(c)(3) organizations are primarily engaged in tax-exempt activities and can participate in a substantial amount of lobbying. Private foundations are defined in section 509(a) of the Internal Revenue Code as 501(c) organizations that do not qualify as public charities. Separating your organization from the rest is an important part of establishing yourself in your community.

Chelsey Barkdull
Chelsey Barkdull

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