By NEO Law Group
Figure 4: Taxonomy of 501(c)(3) Organizations Approved in FY 2021 A startup nonprofit wishing to apply for IRS recognition of tax-exemption under 501(c)(3) must file either Form 1023 or Form 1023-EZ. The Form 1023-EZ is only available to organizations that meet certain eligibililty requirements, including projection of gross revenues of no greater than $50,000 in […]
Form 1023 The IRS has released an updated Form 1023, revised December 2017. Form; Instructions. For organizations submitting the full Form 1023, the user fee is now $600. The instructions indicate that organizations should refer to Rev. Proc. 2017-5, 2017-1 I.R.B. 230, or a later revision for updates to user fees, which are revised in […]
On February 22, 2017, the IRS announced that publicly available information from approved Form 1023-EZ tax-exemption applications is now available electronically for the first time. The data on IRS.gov is available in spreadsheet format and includes information for approved applications beginning in mid-2014, when the 1023-EZ form was introduced, through 2016. The information will be updated quarterly, starting […]
Most new charitable nonprofits other than churches will seek 501(c)(3) recognition from the IRS. Since July 2014, qualifying nonprofits have been able to apply for recognition of 501(c)(3) tax-exempt status using either Form 1023 or the much simpler Form 1023-EZ. While Form 1023-EZ has since become the more popular application form, it may not always be the […]
On July 1, 2014, the IRS released Form 1023-EZ, a short form online application for small organizations seeking a determination of tax-exempt status under IRC 501(c)(3). For organizations with actual and projected annual gross receipts of $50,000 or less, the new Form will serve to minimize the complexity of applying for exemption. And perhaps more important to the IRS, it […]
The IRS recently proposed Form 1023-EZ, a simplified version of Form 1023 for recognition of federal exemption under 501(c)(3) of the Internal Revenue Code. The new form converts Form 1023’s 25-pages into merely 3, creating a less burdensome exemption process for certain qualifying organizations. The goal of the streamlined application is to help small charities […]
The National Association of Attorneys General (NAAG) and National Association of State Charities Officials (NASCO) held their 2024 Charities Conference on October 8-10. This conference is the sole annual event at which charity regulators and nonprofit organizations and their attorneys, accountants, fundraisers, and advisers can meet, learn about, and discuss issues of interest across the […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Resources of the Week. Notable Nonprofit Posts, Articles, & Other Resources: 10 Major Legal Threats to U.S. Civil Society (International Center for Not-for-Profit Law) Study Concludes TCJA Reduced Charitable Giving by $20 Billion Annually (darryll k. jones, Nonprofit Law […]
The California Secretary of State is holding a free virtual nonprofit workshop on Wednesday, August 14, 2024 from 10 am to 11:30 am. You can register for the workshop here. Join the California Secretary of State’s Business Programs Division as we kick off recognizing National Nonprofit Day with a virtual workshop tailored just for you! We […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Resources of the Week. Notable Nonprofit Posts, Articles, & Other Resources: Has Your Organization been Blocked by Charitable Fundraising Platforms? It is likely due to California’s new “Good Standing” requirement. (Karen Wu, Perlman + Perlman) In the past few […]
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