i need a smart person who can translate a lot of big words into less scary pieces.

[she_is_my_addiction]

Starting a Nonprofit Organization

I need most of this broken down into basic English...my head is groggy, I'm sleepy, and I want to lay down, but I'm trying to do some research here, and it's not working.

If no one wants to try for the whole thing...can someone at least explain the following to me?

- If you want your nonprofit (and if you think your nonprofit deserves) to be exempt from federal taxes (and maybe some other taxes, too), you should file with the IRS to be a "tax-exempt" organization. (The IRS states that you must be a corporation, community chest, fund, or foundation to receive tax-exempt status. Articles of association may also be used in place of incorporation.) (Probably the most well known type of nonprofit is a the IRS classification of 501(c)(3), a “charitable nonprofit’.) (Being tax-exempt is not the same as being tax-deductible.) In Canada, you can file for tax-exemption at the provincial and Federal levels.

Thanks

 

[she_is_my_addiction]

no one?

 

[Roxanne Appleby]

Quick and dirty: "501(c)(3)" is the key phrase. Most nonprofit charities, schools, think tanks, etc. are organized as such. The organization is not subject to state or federal income taxes, and contributors can deduct the value of the contributions they've made from their own state and federal income tax basis (the amount of income they pay taxes on.) There are some restrictions on 501(c)(3) organizations: You can't do "electioneering" for example (promoting one side or another in an election campaign), but you can make a case on issues. (You can't say "Vote 'yes' on Proposal C, the school choice initiative," but you can write "school choice has been shown to be a good way to improve student outcomes.")

It all depends on what you want to do, but odds are 501(c)(3) will cover it. Try narrowing your research to just that. Here's a good place to strart (as usual): http://en.wikipedia.org/wiki/501(c)(3)

 

[scheherazade_79]

Starting a Nonprofit Organization

I need most of this broken down into basic English...my head is groggy, I'm sleepy, and I want to lay down, but I'm trying to do some research here, and it's not working.

If no one wants to try for the whole thing...can someone at least explain the following to me?

- If you want your nonprofit (and if you think your nonprofit deserves) to be exempt from federal taxes (and maybe some other taxes, too), you should file with the IRS to be a "tax-exempt" organization. (The IRS states that you must be a corporation, community chest, fund, or foundation to receive tax-exempt status. Articles of association may also be used in place of incorporation.) (Probably the most well known type of nonprofit is a the IRS classification of 501(c)(3), a “charitable nonprofit’.) (Being tax-exempt is not the same as being tax-deductible.) In Canada, you can file for tax-exemption at the provincial and Federal levels.

Thanks

It says:
Tick this box and sign all your worldly goods over to me, bitch!

Signed,
George W Bush

 

[she_is_my_addiction]

It says:
Tick this box and sign all your worldly goods over to me, bitch!

Signed,
George W Bush

Thanks a lot, Zade. You make me feel so good about the work I'm trying to organize.

 

[she_is_my_addiction]

Quick and dirty: "501(c)(3)" is the key phrase. Most nonprofit charities, schools, think tanks, etc. are organized as such. The organization is not subject to state or federal income taxes, and contributors can deduct the value of the contributions they've made from their own state and federal income tax basis (the amount of income they pay taxes on.) There are some restrictions on 501(c)(3) organizations: You can't do "electioneering" for example (promoting one side or another in an election campaign), but you can make a case on issues. (You can't say "Vote 'yes' on Proposal C, the school choice initiative," but you can write "school choice has been shown to be a good way to improve student outcomes.")

It all depends on what you want to do, but odds are 501(c)(3) will cover it. Try narrowing your research to just that. Here's a good place to strart (as usual): http://en.wikipedia.org/wiki/501(c)(3)

Thank you. I hadn't even thought of wikipedia as a source. I think this'll help a lot.

 

[AngelofDarkLust]

Nolo Press. They have a web site. They have books with pull out forms (mostly CA based but they do some other states as well). Dirty little secret... us lawyers use 'em too.

 

[angela146]

a 501 C 3 corporation is a "non profit". If you donate money to them, it is normally tax deductible.

a 501 C 4 corpoation is a "not for profit". Donating money to a 501 c 4 is not tax deductible. *However* if a 501 c 4 makes money (by selling goods or whatever) they do not pay taxes on their own income.

C 3 organizations are usually charities. (March of Dimes, Heart association etc.)

C4 organizations are usually clubs, frateral groups or whatever. (Loyal order of the Waterbuffalo).