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TaxID# and non-profit status

17 years 10 months ago #61960 by Mom2Punkin
Thanks JHB!
17 years 10 months ago #61959 by JHB
Look on the FORM on Section XI User Fee Information (page 12). It's actually the very end of the form, but since the schedules start at the point, the middle of the packet.

On the instructions it's on page 16 at the bottom of the first column. But it doesn't reference the $$ amounts and just has a pretty basic sentence or two.
17 years 10 months ago #61958 by Mom2Punkin
Do you know by chance where on the huge book form does it discuss the filing fee?
17 years 10 months ago #61957 by britnchick
Thanks JHB,
I appreciate the info!
17 years 10 months ago #61956 by JHB
The Tax ID number is merely an identifcation code (like a person's social security number). It's quick, easy, no fee and does NOT make you a non-profit.

The 501(c)(3) status is what achieves that. The paperwork/forms to file are not trivial, but many of us have done it and people on the forums are very helpful. Filing fee just went up to $750 (unless you can state your average GROSS receipts are less than $10,000. Then it's $300.)

Benefits include operating legitamately, donors can take charitable deduction for goods/funds contributed, tighter processes and controls (because you have to set up some struction for the IRS), may be required for state tax exemption, often required if applying for grants.

Search on the term "501" and you'll find lots more in this section of the Forum.
17 years 10 months ago #61955 by britnchick
We have just filed and received our own Tax ID #. Does this mean we are classified as non-profit or not? We were told we had 27 months to apply for the 503(c) status..any ideas?? What are the benefits to doing that now?? How much does this cost?
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