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Becoming 501(c)3

18 years 3 months ago #103987 by newptomom
Replied by newptomom on topic RE: Becoming 501(c)3
FYI...if you have applied recently, it may take longer than normal for a response. According to our IRS caseworker, they had over 100,000 more applications than usual - apparently due to the number of new nonprofits to provide assistance to the hurricane victims.
18 years 4 months ago #103986 by JHB
Replied by JHB on topic RE: Becoming 501(c)3
Twelve months is way too long. You should have heard something within a few weeks.

Call the tax exempt department at (877) 829-5500. It will be easiest if you have your EIN. But they can look it up by name also.
18 years 4 months ago #103985 by dlf
Replied by dlf on topic RE: Becoming 501(c)3
Question all you smart folks. We applied for 501 status almost 12 months ago...how long does this thing take and any ideas on where I can check up on it? d
18 years 4 months ago #103984 by JHB
Replied by JHB on topic RE: Becoming 501(c)3
writermom:

The rule of thumb for groups like ours is $5000 (gross, not net). If you make less than that, you are fine. Just continue to operate informally. If you make more, you should formalize to become a 501(c)3 and follow those rules.

Note - no matter how small a group, you should have some basic processes and protections so funds aren't abused.

[ 07-15-2006, 06:31 PM: Message edited by: JHB ]
18 years 4 months ago #103983 by <non501c3>
Replied by <non501c3> on topic RE: Becoming 501(c)3
to my question above, i should add,

AND YOUR INCOME IS ABOVE THE LEVEL that triggers reporting to the state and federal tax agencies....

whatever that limit is, I am not sure about 'for profit' PTO/As...but there is a level below which no tax is reportable(just as with private persons).. I have heard the numbner $5k on these boards somewhere as some sort of threshold but I am sure some sharp mind on these BBs will be able to give you beter info, writermom)
18 years 4 months ago #103982 by writermom
Replied by writermom on topic RE: Becoming 501(c)3
We are not a 501c3 and use the district's EIN number. We have never paid any taxes, and our income is less than $5000 per year. Are we breaking the law???
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