Tag: The 501(c)3 Organization
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Public Charity – Getting Started with the Proper Documents
A public charity is another term for the coveted Internal Revenue Code Section 501(c)3 status. This designation allows all donations made to the charity to be tax deductible for taxpayers. To obtain this designation, the organization must have the proper provisions within the organizing documents.
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Form 990 – Return of Organization Exempt from Income Tax
Section 6033 of the Internal Revenue Code requires tax exempt organizations to file an annual report. Form 990 fulfills this requirement. Many citizens utilize the information from Form 990 to evaluate the non-profit organization they donate to annually. The 990 covers much of the information any citizen desires to know about the charity of their choice.
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How to Start a Non-Profit Organization: Step 3 – The First Board Meeting
Step three of starting a non-profit organization is gathering the potential board members for the first meeting. In step one; you formed a brain trust to validate the mission of the non-profit organization. In step two; you generated a list of potential board members by identifying sources and creating profiles. In this step, you have to get…
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How to Start a Non-Profit Organization: Step 2 – Founding Board Membership
Now that your brain trust has evaluated the idea and has endorsed the concept, it is time to go onto step 2 of the process. You will need to create a founding board to start the non-profit organization. The members of the brain trust provided you with names of potential board members.