Back to the Books

So close to finishing "Section One" (the legal aspect) of this incredible project! Here is a quick blurb about about what I learned about applying for 501c3 tax exempt status after having filed the articles and after having prepared the bylaws- Although, I still do not understand 1023 versus a 1024...

Preparing the Tax Exemption Application

1. Part I- Identification Applicant
2. Part II- Organizational Structure
3. Part III- Required Provisions in your Organizing Document
4. Part IV- Narrative Description of your Activities
5. Part V- Compensation and Financial Arrangements with Officers, Directors, Trustees, Employees, and Independent Contractors
6. Part VI- Your Members and Other Individuals, and Organizations that Receive Benefits from you
7. Part VII- Your History
8. Part VII- Your Specific Activities
9. Part IX- Financial Data (thus far)
10. Part X- Public Charity Status
11. Part XI- User Fee Information (of course you have to pay to have the IRS to look over this)
12. Then you send in your user fee, EIN, Parts I-XI, completed schedule, articles signatures, and name of the organization
13. Wait, and wait, and wait for approval as a public charity- or else be a foundation, which I do not want.

The tax exemption application looks to be one of the larger paperwork hurdles in starting a nonprofit organization. Basically, you must comb through line-by-line in the application. I am thinking about having a lawyer look it over because taxes just confuse me to no end. Only a few more posts about legal "stuff"- I promise!

Deuteronomy 31:6

Don't mistake God's patience for His absence,

His timing is perfect, and His presence is constant.

He's always with you!