YOU REALLY WANT TO....
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the 10 Steps Outline
If you expect to / need to get donations to
survive, from donors who file itemized deductions on
their income tax
returns, or which are corporations, tax-exempt
status probably does makes
1. 501(c)(3) tax-exempt organizations
limited in how much they can lobby
(there are other tax-exempts that may be less
Federal law imposes an
affirmative annual filing requirement on EVERY
no matter how tiny. Failure to comply for 3
years will mean LOSS
OF EXEMPT STATUS and starting all over again with a
application! This is true even if you are very
tiny and haven't
yet filed for exemption. If you don't do the
annual filings, and
eventually apply for exemption, you won't get
Staying "under the umbrella" of another
organization may allow you to piggy-back on the
organization's liability insurance.
THESE ARE SOME, BUT NOT ALL, OF THE QUESTIONS
YOU SHOULD ASK YOURSELF BEFORE TAKING THE PLUNGE
AND FORMING A TAX-EXEMPT ORGANIZATION !!
of organizations have lost exemption by failing to file with
the IRS for 3 years straight.
I've spent countless hours setting up new organizations that fail and disappear.
Does the world really need your project to be set up as a brand new separate corporate entity? No other way?
TAKE IT SLOW! TRY IT ON FOR SIZE BEFORE JUMPING IN! HASTE MAKES WASTE!
THIS INFORMATION IS NOT PROVIDED AS LEGAL ADVICE AND CREATES NO ATTORNEY-CLIENT RELATIONSHIP.
PLEASE CONSULT YOUR OWN LEGAL AND FINANCIAL ADVISORS.