Page 63 - Washington Nonprofit Handbook 2018 Edition

y The assets have a value of at least $250,000.

b. How to Register and Report Under the CTA

To register under the CTA, the trustee must file with the Secretary of State a
copy of the instrument establishing the trust, an inventory of assets, and a
registration form provided by the Secretary.

The annual reporting requirement is satisfied by filing with the Secretary a
copy of the corporation’s publicly available United States tax or information return,
such as a Form 990 or 990 PF. A corporation that is not required to file either of
these returns can instead file a separate form provided by the Secretary, describing
the corporation’s financial affairs.

CHAPTER 18. Amending Governing Documents

a. Generally

It is advisable for the board of directors of a nonprofit corporation to review
its articles of incorporation and bylaws on a regular basis to ensure that the

provisions in these documents are still accurate and not out of date. For example,
the board will want to confirm that all of the activities conducted by the
organization fall within the organization’s purposes set forth in the articles. The
procedures set forth in the bylaws should be confirmed as current practices of the
organization.

b. Amending Articles; Restatement

A nonprofit corporation may need to amend its articles of incorporation at
some time after its formation. The most common reasons for an amendment to
the articles include (a) a change of name, (b) addition of or a revision to one or
more of its purposes, or (c) addition of one or more of the provisions required by
federal tax law to satisfy the organizational test necessary to qualify as a 501(c)(3)
organization. See Chapter 22 for a description of the requirements of the
organizational test.

The Washington Nonprofit Corporation Act sets forth the statutory
procedure for amending articles of incorporation. In addition, the corporation’s
bylaws and articles should be checked for any additional requirements, such as
more stringent notice or additional approval requirements. A document containing
the revised or additional language, called “Articles of Amendment” must be drafted.
A form for Articles of Amendment can be found online at https://wayfindlegal.org/.

WASHINGTON NONPROFIT HANDBOOK -52- 2018