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Your organization will have approximately 15 months to file a form 1023, which is a form that assesses your nonprofit’s structure and programs. The standard fee for most nonprofits starting out will be 0.
Additionally, to gain 501 (c)3 status you must be incorporated, and most states charge a fee when you file for incorporation.
Since your nonprofit is starting out, the fee shouldn’t be outrageous.
Once you have filled out the necessary paperwork, it is important to know what you’ll need to file at tax time each year.
You might want to review this list of IRS forms for exempt nonprofits.
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It’s always good to know what you’re up against before diving into a challenge.
Before you file for 501(c)3 status and tax exemption, you’ll need to pay a fee that is dependent on the size of your budget.
If you’re passionate about your cause and people know it, they will, in turn, be excited to help you. So, how did your nonprofit handle financial problems when you were starting out?
Don’t forget to check out Cause Camp to really dig into starting and maintaining nonprofits in a whole new way.
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