QUESTIONNAIRE FOR POTENTIAL NONPROFITS
ONLINE RESOURCES FOR NONPROFITS
The Community Tax Law Project is a nonprofit organization that provides
free legal representation to low income taxpayers in tax disputes. We
also provide assistance to nonprofit organizations located in the Richmond
and Central Virginia area whose mission is to assist low income individuals.
We accept these cases on a limited basis due to funding constraints, however,
and our nonprofit services are restricted to assisting these groups with
drafting articles of incorporation and bylaws, applying for recognition
of tax-exempt status, and brief advice during the start-up phase.
Application for tax-exempt status requires a considerable amount of effort
on the part of the organization. The following is a list of forms and
materials you should obtain to help you prepare for the application process.
All of these forms and materials are available on the Internal Revenue
Service's web site at http://www.irs.gov.
- IRS Form 1023, Application for Recognition of Tax Exempt Status & its instructions
- Form 8718, User Fee for Exempt Organization Determination Letter & its instructions
- Form 872-Consent Fixing Period of Limitation & its instructions
- Form SS-4, Application for Employer Identification Number & its instructions
- IRS Publication 557, Tax-Exempt Status for Your Organization
- IRS Publication 4220, Applying for 501(c)(3) Tax-Exempt Status
- IRS Publication
4221, Compliance Guide for 501(c)(3) Tax-Exempt Organizations
Your application
will require a current year financial statement, projected financial statements
for the next two years, and copies of your articles of incorporation and
bylaws. You should also complete the Questionnaire
for Potential Nonprofits that will assist you in satisfying the requirements
contained in IRS Form 1023, Application for Recognition of Tax Exempt
Status. You should begin formulating a business
plan and a budget for your organization. If you plan to solicit donations
for your organization, you should contact the Virginia Department of Agriculture
and Consumer Affairs and request information regarding registering in
accordance with Virginia's Charitable Solicitations Laws.
For additional sources of information, check the library for books on
business planning and non-profit management. There are many titles available.
Local community organizations may also offer seminars on business plan
development.
Please see Online Resources for Nonprofits
for a comprehensive list of resources for nonprofit organizations on the
Internet and Books for Nonprofits for
a detailed nonprofit bibliography.
©
Copyright 2007 The Community Tax Law Project
all rights reserved
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