Not for Profit

Non-Profit, Not-For-Profit and Tax Exempt Organizations

Do you want to change the world, or maybe one small corner of it?  It is easy to form a not-for-profit corporation, which is formed in substantially the same manner as a for-profit corporation.  But some ideas require a degree of public support in order to work, whether through lower taxes, grants or private donations.  How does your organization fit into the guidelines for public support?  How does your organization fit into the guidelines so that donations made to it are tax-deductible for private individuals and corporations?  How can your organization purchase things needed without sales taxes to make each dollar stretch farther?

Becoming a IRS Section 501 Organization

You've probably heard of a "501(c)3" organization.  This is an organization that can receive donations and the donor can deduct that charitable donation on your federal income tax return.  There are actually a number of Section 501 type organizations, including public and private foundations, political organizations, and schools.  Not all of them are 501(c)3, but many are taxed differently than their for profit counterparts.  Only the Internal Revenue Code Section 501 can tell you where your organization fits.  To become a Section 501 entity, Internal Revenue Service Form 1023 – Application for Recognition of Exemption - must be filed with all the associated attachments.  The Internal Revenue Service analyzes the information provided and makes a determination as to whether your organization qualifies under its guidelines.

The procedures followed for determining Section 501 status are stringent, because the Internal Revenue Service is charged with preserving tax exempt status for convincingly deserving organizations.  Any dollar given that is deducted from taxes is one less dollar that goes to the United States Treasury.

We can help you form a Section 501 organization and navigate the maze of IRS regulations and forms.  We have experience getting IRS approval on 501(c)3 organizations – the most difficult type of Section 501 entities to be recognized.


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