What are the Primary Benefits of 501(c)(3) corporation Tax Exempt Status

Nonprofits are eligible to apply for 501(c)(3) tax exemption if their purpose is to become a charitable, religious, scientific or educational organization. After gaining the 501(c)(3) status, organizations redeem various benefits to help their cause. We at NonprofitLegalCenter.com will help your organization become 501(c)(3) tax deductible!

Reminder: Upcoming IRS Phone Forum – 501(c)(7) Social and Recreational Organizations

On August 21 from 2:00PM-3:00PM EDT, the IRS Exempt Organizations will be holding a phone forum discussing 501(c)(7) Social and Recreational Organizations. These organizations are defined as being organized for pleasure, recreation and other nonprofitable purposes. Examples include fraternities, country clubs, hobby clubs and sports clubs. The central purpose of these organizations is to provide…

Optional Expedited Process for Certain 501(c)(4) Exemption Applications

Your 501(c)(4) organization might be eligible for expedited processing of you application, according to an IRS update. To qualify, your organization must meet all of the following criteria: Your organization applied for exemption as a 501(c)(4) organization. Your application had been pending for more than 120 days as of May 28, 2013. Your case involves…

Don’t Lose Your 501c3 Status!

Just a friendly reminder that if your nonprofit’s fiscal yearends December 31st, your filings are DUE May 15th. Filing your annual financial data with the IRS is a crucialway to maintain your 501c3 status. You don’t want your 501c3status to be revoked like so many nonprofits did last year. We’re offering a discount on our nonprofit tax filing services.Remember you…

FAQ ABOUT PRIVATE FOUNDATIONS

  1.  What is a private foundation, or family foundation? Technically, it is a not-for-profit entity that can be controlled by a person, family or business. Sometimes private foundations are referred to as ‘family foundations’. They are organized exclusively for charitable, educational, religious, scientific and literary purposes under Section 501(c)(3) of the IRS Code. The…

THE MAJOR DUTIES OF 501(c)(3) NONPROFIT BOARD OF DIRECTORS

A nonprofit’s Board of Directors functions as the governing body of the nonprofit and has an overall responsibility for the organization. The role of the Board of Directors is to act as a group making decision to further the purpose of the nonprofit. Some of these decisions and responsibilities are: 1. Provide continuity for the organization…