1. #1
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    Default 501c3 Information needed

    I brought it up to my fire company that we needed to switch our current status to a 501c3. They are giving me a hard time and talking crap behind my back saying i dont know what i am doing. Can people that have a 501c3 status give me the details about having it or getting it. Is there any fees? any other important information? thanks a lot (i am about to quit because of all the harrasing i am getting over this crap!)

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    Well I am not a CPA or anything but I do know there is a fee that is based on the amount of income that you take in each year. $750 or so depending on your income but the the IRS is a good place to start they have a lot of good information on there. http://www.irs.gov/charities/article...=96210,00.html

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    I can give you the name of a VERY good attny (In NY) who specializes in FDs.....if you would like it and his contact info please send me a PM.....

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    You also might consider posting this in the 'volunteer' section here. Even go back about 4 to 6 months ago. Got a lot of valuable information on this subject then. I think Paladin Knight had a list of information.

    But you can call the IRS yourself and they can help you. It often is a good idea to get your status set. Especially if you intend to go on a funding search in the private/corporate sector.

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    Since doing the search will probably hit a load of references to posts with 501c3 in them here's the short and long of it.

    Everything 501c is a non-profit designation, 3 is just the most common for general non-profits. FDs are supposed to be under c4, schools, hospitals and some others are anywhere from c5 to c9. Low-income housing co-ops are supposed to be their own section too.

    The reason everyone chases the c3 is that it's the most widely recognized since that's what the cancer societies and other types of charitable organizations are found. Plus accountants know that anything given to a c3 is tax-deductible. Many on here have had trouble with Wal-Mart not giving funds to an FD when they're anything but a c3. I believe the consensus was in NY State that most FDs were c4s.

    Anyway, many other private foundations may also limit giving to c3s, so you might be missing out on some money as anything but a 3. I've seen a few specify it, and actually early AFG did too. Now it just says non-profit.

    To rectify it is a Form 1023 from the IRS and Form 8718 to accompany the payment that you'll need to download, and then the checklist is at the end of the 1023 form on what else needs to be sent in. Most cases you'll probably need Schedule E and possibly Form 1024, but 1024 is normally if the operation wasn't properly filed or not filed at all in the past. Just did this for NC to make a County Association Official. Schedule E and Form 1024 along with 1023 create the proper paper trail for the IRS to consider the organization to have been a c4 since it started doing anything, and c3 from when they run the paperwork on out.

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    they are telling me they don't want to get a 501c3 because we will have to fille a taxes every year and we dont have to file ANY tax forms now. I said well we will have to let the department decide if they want to lose out on all the charitable money in return for not filing taxes each year. My motto is you gotta spend money to get money but i will let them decide what they want to do then.

    Also does anyone know if this has to be renewed each year? and also how much it generally cost to become a 501c3?

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    Correct, if you recieve more than $10,000 from any source you have to file a Form 990.

    It's $750 to file Form 1023. Preparing the Form 990 can be done in house, hopefully you have someone on top of the finances anyway. I believe you're supposed to be filing one even if you're not a c3 so might be a moot point since the department should have been doing it all along. Would have to verify that with the local IRS office.

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    Quote Originally Posted by BC79er View Post
    Correct, if you recieve more than $10,000 from any source you have to file a Form 990.

    It's $750 to file Form 1023. Preparing the Form 990 can be done in house, hopefully you have someone on top of the finances anyway. I believe you're supposed to be filing one even if you're not a c3 so might be a moot point since the department should have been doing it all along. Would have to verify that with the local IRS office.
    Or anything over 25k in one year then taxes must be filed

    I don't know about NY but in Iowa you must file a bi-annual report with the state or if board changes members

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    From the IRS web page regarding future on-line filiing:

    User Fees for EO Applications Prepared Using Cyber Assistant

    Cyber Assistant, a Web-based software program designed to help 501(c)(3) applicants prepare a complete and accurate Form 1023 application, will become available during 2010. Once the IRS announces the availability of Cyber Assistant, the user fees for exempt organizations applicationswill change again:

    $200 for organizations using Cyber Assistant (regardless of size) to prepare their Form 1023
    $850 for all other organizations not using Cyber Assistant (regardless of size) to prepare their Form 1023.
    IRS will announce when Cyber Assistant is available and the effective date of the user fee change. Subscribe to the EO Update to automatically receive an alert that Cyber Assistant is available.

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    Wink Start by checking your articles of incorporation and by-laws

    I started this process about 2 years ago and never finished it. Personally, I have yet to see it hurt my dept's fundraising or grant writing efforts. There is a lot of stuff out there that requires it, but for Walmart, AFG, DEC, US Fish & Wildlife, Smokeless Tobacco, etc. you don't need it. If you are a fire district in NY, you are already a municipal entity and can't even apply for a 501c3, similar to a school district.

    I can see that you are incorporated on the NY state website, which is the first step. You need to request a copy of your articles of incorporation and make sure they meet the requirements for a 501c3. There is a form you can send in to the state to get a copy of them with a small fee. If they don't meet the requirements, you will have to amend them first and file them with the state. There is some well documented legal verbage that needs to be there. I never got farther then this.

    http://appsext8.dos.state.ny.us/corp...results_page=0

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