Set Up Your Organization With Fewer Worries
Providing the Resources You Need To Establish a Non-profit
A NON-PROFIT (501c3) DEDICATED TO Building Communities and changing lives
When starting a non-profit cooperation, it can be challenging to navigate the requirements and expectations. The process can also take your focus off from what your trying to accomplish.
THREE TYPES OF NON-PROFITS (501c3)
Most non-business entities are (501c3) charitable organizations. Among these organizations, most are public charities. This category includes:
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Mutual Benefits
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Religious Organizations
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Public Benefits
What Services to Expect
Starting a non-profit (501c3) is similar to setting up a typical business. The only additional hurdle is the need to get approved by the Internal Revenue Service (IRS) to be exempted from taxes. The other usual responsibilities you must fulfill include:
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Reservation of Name
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Filing Business-Formation Documents With Your State
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Articles of Incorporation and Fee
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Bylaws
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Need EIN Number
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1023 Application
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Resolution
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Projected Budget
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pay.gov 1023 Filing Online
How We Can Help You With Our Resources
FiveStar CDC is also a non-profit (501c3) entity that was created to help people to navigate the steps in establishing their own non-profit organization. You can trust us to guide you in conducting a needs assessment to getting IRS approval.
Forming Your Non-profit
In this step, you will need to set up a board of directors and file documents with your state to establish a non-business entity. Most states have a special business classification for non-profits, and you must be aware of this before filing your forms.
Applying for Tax-Exempt Status
A challenging obstacle you will face is applying for tax-exempt status. Each of the many types of non-profit organizations has rules and guidelines for tax-exempt eligibility, tax-deductibility of contributions.
Other Kinds of Non-Business Organizations
Private foundations are also considered to be (501c3) institutions. Donations to these organizations are tax-deductible, and the income that fulfills their mission is exempt from taxes.
Obtaining a Tax-Exempt Status
To get the status that will allow your organization to be exempt from taxes, you must download, complete, and submit the right IRS application. Form 1023 is for large non-profits, while Form 1023-EZ is for smaller institutions.
Reach Out to Us Today
We are here to assist you. Get in touch with us for more details.