How To Apply For a Non Profit Tax Exempt Status With The IRS

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Exempt Organization Types

Charitable Organizations

Organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements are tax exempt under Internal Revenue Code Section 501(c)(3).

Churches and Religious Organizations

Churches and religious organizations, like many other charitable organizations, may qualify for exemption from federal income tax under Section 501(c)(3).

Private Foundations

Every organization that qualifies for tax-exempt status under Section 501(c)(3) is classified as a private foundation unless it meets one of the exceptions listed in Section 509(a). Private foundations typically have a single major source of funding (usually gifts from one family or corporation rather than funding from many sources) and most have as their primary activity the making of grants to other charitable organizations and to individuals, rather than the direct operation of charitable programs.

Tax-Exempt Organizations

Nonprofit corporations must file with the IRS as a separate step in order to receive tax exempt status. An organization cannot receive tax exemption unless it was first formed as a corporation with an accepted charitable structure and purpose. This type of non-profit organization is obligated to file tax returns if donations are over $50K per year also need to and include a detail of each donor to validate it with the IRS. Members’ or donors’ contributions are tax deductible and the non-profit organization must keep a detailed records of the use of contributions received in case the IRS chooses it for an audit.

The deadline for tax filing is May 15. The time frame for the approval of the exempt application with the IRS is 90 days if all requirements are met. Not all nonprofit organizations are eligible for tax exempt status.  Good news is, our experienced team can give you advice and help you with completing the right application forms, which will be most time and cost-effective. 

The IRS charges $400 for the application if planned donations are limited to $40K per year and $750 if they are over $40K per year.

To start the filing process you need a non-profit company established in your state:

  • Articles of Incorporation
  • Employer Identification Number
  • By-laws of the Organization
  • Minutes of Board Meetings
  • Names, Addresses, and Resumes of Board Members
  • Names and addresses of all Active Members
  • Inventory of Assets
  • Inventory of Liabilities
  • Rent/Lease Agreements and Contracts
  • Revenue and Expense Statements
  • Written Reason for Formation and History
  • Organization Mission Statement
  • Organization Activities, Operations and Programs Documentation
  • Financial Support Documentation
  • Fund Raising Program Descriptions

Check Our Video Presentation Non-Profits Formation

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