NC S489

Allows charitable or religious corporations to merge with certain LLCs whose sole member is a 501(c)(3) tax-exempt organization, and expands the definition of "business entity" to include nonprofit associations for merger purposes

Requires all domestic and foreign nonprofit corporations authorized in North Carolina to file annual reports with the Secretary of State by November 15 each year beginning January 1, 2027, with failure to file being grounds for administrative dissolution

Creates a new "domestication" process allowing domestic nonprofit corporations to become foreign nonprofit corporations (and vice versa) while maintaining corporate continuity, with charitable/religious corporations subject to additional approval requirements

Increases the minimum required number of directors on a nonprofit corporation's board from one to three (effective October 1, 2025), except for private foundations which may have one or more directors

Allows charitable organizations to satisfy state disclosure requirements about tax-deductible contributions by providing a written acknowledgement meeting federal IRC Section 170(f)(8) requirements