When an IRS Examiner reviews a tax-exempt application, one of two things happens. Ideally, they mail a physical Letter of Determination. This document conveys an…
Submitting a tax-exempt application to the IRS as soon as possible is also crucial because it takes the IRS a long time to review applications.…
Narrative 1023 Long and 1024 applications require a narrative description of the organization’s current and planned activities. This narrative is usually about a page in…
1023 EZ 1023 Long 1024 Organization Is 501c3 x x Organization Is Other Form of 501c x Organization Is <$50k Revenue…
Just like there are multiple 501c classifications, there are numerous IRS applications for those types. IRS form 1024 applies for most tax-exempt varieties other than…
The most common type of tax-exempt organization is 501(c)(3), which we shorten to 501c3. This number refers to section 501c3 of the Internal Revenue Code…
Establishing a nonprofit corporation is only the first of many steps required to create and operate a legal nonprofit organization. The next step is filing…
A business checking account is necessary for all nonprofit organizations. The account helps keep funds belonging to the organization separated from any accounts personally belonging…
Bylaws outline the legal structure of every organization. These include the Board of Director’s roles and responsibilities, language required by the IRS governing tax-exempt nonprofit…
Just like every individual has a Social Security Number, every business (for-profit or nonprofit) needs a federal Employer Identification Number or EIN. The EIN identifies…
