Monday, September 20, 2010

Thinking About Starting A Non-Profit?

To create a non-profit you have to file articles of organization with your state government.   Before you do that, you should visit www.irs.gov and read Publication 557.  It is a must read if you are going to start a non-profit. To receive tax exempt status you must file Form 1023 with the IRS.   Form 1023 and instructions can also be found on the IRS's website. The reason why you want to read the IRS documents first is because filing articles of organization with your state's government does not grant you tax exempt status.  Only the IRS can do that if they approve your non-profit for tax exempt status. Tax exempt status allows donations to your non-profit to be tax deductible for your donors. Applying for grants involves finding organizations that provide grants that support your non-profit's mission and completing their grant applications.

No comments:

Post a Comment