Archive for the ‘Not For Profit’ Category
Setting up a not charity as a 501(c)(3) organization can be a tricky endeavor. While I’d always consult with an adviser, here are some solid resources you can check out to educate yourself on the process.
1) The IRS has a series of web pages that walk you through the process step by step. Check out the Life Cycle of a Public Charity/Private Foundation.
2) Want to know what you’re going to have to do to keep your exempt status. Be sure to check out StayExempt.org.
3) Publication 557 is another good source of information on the application process.
Again, these are by no means exhaustive and I highly recommend you talk to a tax professional and an attorney before getting started.