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501c3 Purpose Statements: What are the limits? The answer to this question boils down to one thing, compliance with IRS Code section 501(c)(3).  Under section 501(c)(3) a tax-exempt nonprofit is required to have a complying purpose statement. To determine if an organization complies with section 501(c)(3) the Organizational test is applied.  To meet the Organizational [...]

If your organization is planning to hire a veteran this year, you may get tax advantage. You may be thinking, “but my nonprofit is already tax exempt under section 501(c)(3) of the IRS code, why would it make a difference?” Under section 501(c)(3) your organization may be exempt from Federal Income Tax, but would still [...]

The IRS in Revenue Procedure 2012-8 2012-1 I.R.B. 235 shows the user fees for the 501c3 Application are unchanged from 2011. The user fee on Form 1023 depends on how much gross revenue your organization expects on an average annual basis.  If your organization expect to have less than $10,000 in gross revenue the user [...]

You can find IRC 501(c)3 at Cornell Law. Google+

Currently the IRS fees for the 501c3 application are as follows: $400 for organizations whose gross receipts do not exceed $10,000 or less annually over a 4-year period, or $850 for organizations whose gross receipts exceed $10,000 annually over a 4-year period. Google+

The exact amount of IRS processing time depends. Some of the factors that can affect the IRS processing time of an application include: the type of exemption application the client is submitting, completeness of the application, and current workload of the IRS reviewers. Typically 501c3 applicants should expect the process to take between 4 – [...]

The terms “nonprofit” and “tax-exempt” are often used interchangeably.  The interchangeable use of nonprofit and tax-exempt is incorrect. The categorization of being a nonprofit is determined at the state level, while the determination of tax-exempt status is determined at the federal level. As a general rule most federally recognized tax-exempt organizations are nonprofit organizations (organizations organized [...]

There are many advantages of gaining 501c3 tax-exempt status.  Below is list of benefits that may be available to 501c3 tax-exempt organizations.  Remember, in most cases,  these benefits are only available to organizations that apply for recognition of tax-exempt status under IRS § 501c3 and are recognized by the IRS as a 501c3 tax-exempt organization. [...]

Form 1023 is the form required by the Department of the Treasury Internal Revenue Service for “Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code.” Form 1023 is comprised of 11 parts and requires a user fee between $400-$850 to apply. Form 1023 was last substantively revised in June 2006.  Additional [...]

Typically what individuals are referring to are organizations that have applied for and recognized by the Internal Revenue Service (IRS) as a tax-exempt organization under section 501(c)(3) of the IRS Code. (26 IRS § 501(c)(3)) Individuals mistakenly use the terms 5013c or 503c1.  As you now know these descriptions or names are incorrect.  The term “501c3” comes [...]