This is so awesome. Thank you! I'm wondering what would happen if I'm approved for 501 C3 EZ and end up earning more than $50,000. What happens to my organization if we gather a higher income than this?
Thank you for valuable information. I appreciate it very much. I have a quick question few individuals wants to setup a 501 c(3) so they can donate money on monthly basis but this entity will fund money over seas for widows in the financial support. Can they still form non for profit and get tax exempt status? Thanks
Thank you! Every situation is different, so I can't speak to those specific individuals, but I can say that the concept of creating a domestic nonprofit that benefits people overseas is generally acceptable (again, depending on the specifics).e
Hello, I am Starting A Non Profit to give scholarships in another country, I already register as a foundation and my next step is to file form 1023 EZ in Texas. My question is, if I can start doing fundraisers already or I have to wait?. I don't have the capital to start with the help I want to give.
If you’re 1023 is eventually approved, your donors’ donation will be considered tax-deductible, even for the fundraisers you do now. If your application is not approved, the donors will not be able to deduct those donations from their personal income taxes. But generally yes it is okay to fundraiser before your 1023 or 1023 EZ is approved.
It appears that the 501c3 that I have worked with just found out that our person that was suppose to be doing our taxes, did nothing. So we switched from being an LLC in 2016 to a 510c3. We were approved and appeared we were all set. Our form 990 was never submitted starting that year. So naturally, we lost our status with the IRS. What steps are needed to obtain our 501c3 status? Would it be filling out this form 1023 again? Or, trying to retroactively fill out all of the missed 990's in the past number if years that were missed?
Thanks for watching - here's some guidance from the IRS on late 1023's: www.irs.gov/charities-non-profits/charitable-organizations/application-filed-late#:~:text=An%20organization%20that%20files%20an,organization%20can%20show%20good%20cause.
Thanks for watching! While I try to respond to whatever I can, I cannot provide legal advice (such as answering questions about a specific circumstance) in this forum.
![How to Start a Nonprofit in the USA 501(c)(3) [Step by Step]](http://i.ytimg.com/vi/fDhRl9apsD8/mqdefault.jpg)
This was very helpful. I was able to complete this crucial process in getting the IRS Form 1023EZ completed. Thank you for the guidance.
Great! I’m glad this video was helpful to you!
Thank you. 50 videos and finally an application video. You rock.
Thanks for watching! Good luck on your application!
Quick Video and informative. Thank you!
Thank you for watching - glad it helped!
What a great introduction to the 1023! Thank you!
Thank you! I hope it is helpful!
Thank this was incredibly helpful and knowing that the ez is an option for me lessens my anxiety about paying so much to file.
Thanks, and good luck!
This is so awesome. Thank you! I'm wondering what would happen if I'm approved for 501 C3 EZ and end up earning more than $50,000. What happens to my organization if we gather a higher income than this?
Gotta love optimistic preemptive problem-solving questions.
I know you cannot file form 1023 after you file a 1023EZ. If you plan on going big just file the 1023 Form.
Great question
Good lord I didn't realize it was $600. I'm in the process of doing the 1023 for my private operating foundation! Excellent video.
Thank you! EZ is currently $275 if you qualify (qualification guidelines are on the IRS website). Hope that helps!
Just make sure you look into the EZ form. I found out that you cannot get grants and if you make more than $50,000 you cannot file 1023 afterwards.
Thank you! What if it is past the 27 months since the founding of the organization? Are there options to apply for 501c3 still?
Gostaria de saber, estou com a mesma dúvida pois minha organização tem aproximadamente 12 anos e somos do Brasil
This typically requires a showing of good cause. Find more here: www.irs.gov/charities-non-profits/charitable-organizations/application-filed-late
This was very good, thank you!
Thank you for valuable information. I appreciate it very much. I have a quick question
few individuals wants to setup a 501 c(3) so they can donate money on monthly basis but this entity will fund money over seas for widows in the financial support. Can they still form non for profit and get tax exempt status?
Thanks
Thank you! Every situation is different, so I can't speak to those specific individuals, but I can say that the concept of creating a domestic nonprofit that benefits people overseas is generally acceptable (again, depending on the specifics).e
@@LydaGroup Thank you Mark!
thank you...
Thanks for watching!
Thank you so much for this. 🙌🏾
You're so welcome!
Hello, I am Starting A Non Profit to give scholarships in another country, I already register as a foundation and my next step is to file form 1023 EZ in Texas. My question is, if I can start doing fundraisers already or I have to wait?. I don't have the capital to start with the help I want to give.
If you’re 1023 is eventually approved, your donors’ donation will be considered tax-deductible, even for the fundraisers you do now. If your application is not approved, the donors will not be able to deduct those donations from their personal income taxes. But generally yes it is okay to fundraiser before your 1023 or 1023 EZ is approved.
It appears that the 501c3 that I have worked with just found out that our person that was suppose to be doing our taxes, did nothing. So we switched from being an LLC in 2016 to a 510c3. We were approved and appeared we were all set. Our form 990 was never submitted starting that year. So naturally, we lost our status with the IRS. What steps are needed to obtain our 501c3 status? Would it be filling out this form 1023 again? Or, trying to retroactively fill out all of the missed 990's in the past number if years that were missed?
Sorry to hear it! The IRS offers guidance on that question on pp. 2 and 3 here: www.irs.gov/pub/irs-tege/auto_rev_faqs.pdf. Thanks for watching!
I failed to submit my 1023 Ez form in 2013 due to transition from one state to another. I lost it but found it today. It is too late to file?
Thanks for watching - here's some guidance from the IRS on late 1023's: www.irs.gov/charities-non-profits/charitable-organizations/application-filed-late#:~:text=An%20organization%20that%20files%20an,organization%20can%20show%20good%20cause.
And here: www.irs.gov/pub/irs-pdf/i1023ez.pdf
How an Non profit gets reinstated with the IRS
Are we able to ask you questions?
Thanks for watching! While I try to respond to whatever I can, I cannot provide legal advice (such as answering questions about a specific circumstance) in this forum.