What paperwork is needed to become a 501(c) 3 non-profit organization??
2006-09-29 08:34:45 · 3 answers · asked by The Bowling League Champion!!! 2 in Business & Finance ➔ Taxes ➔ United States
The first question is, what is your not-for-profit activity? Is it charitable, religious, etc.?
Are you incorporated as a not-for-profit entity in the state in which you reside?
You will need to complete IRS Form 1023 to apply for tax exempt status with the federal government. This application is available on the IRS website, but it is quite lengthy.
You will have to explain your NFP activities (past, present, and future) in great detail. The IRS will want to see a copy of your Articles of Incorporation, By-laws, Conflict of Interest Policy, and many other documents.
You will also need to have a board: President, VP, Sec., etc. Will these individuals be compensated? Are they related?
These are just a few of the questions you'll have to answer.
2006-09-29 13:10:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The IRS determines this: Check out this publication to get you started.
http://www.irs.gov/pub/irs-pdf/p557.pdf
You may want a tax preparer/bookkeeper (CPAs are OK here and there, but a bookkeeper/tax preparer thinks about your tax return from beginning to end and prepares you for it) to help you whether or not the entity is formed already. I just so happen to be a licensed tax preparer working in a tax/bookkeping office and I was HR/Payroll for a non-profit employer and am currently a member of a non-profit group. There are many rules and regulations for not paying the Government!
hfaldalen, www. beckisbkkpg .com
2006-09-29 16:14:31 · answer #2 · answered by hfaldalen 1 · 1⤊ 0⤋
http://www.irs.gov/charities/nonprofits/index.html
~hope this helps
2006-09-29 15:41:08 · answer #3 · answered by RamsGod 3 · 1⤊ 0⤋