How To Start A Nonprofit On The Fast Track

17 Jul

Do you have an idea that sparks the creation of an organization devoted to positive change for the good for all people? Whether you already have a nonprofit that you’ve registered in your state or you are thinking of creating one, you will still need to apply for federal tax-exemption. There are benefits to creating a nonprofit organization and the biggest is being able to accept donations. 

For recognition as a tax-exempt organization under Section 501(c)(3), you need to traditionally complete the 1023 form. The process can take up to six months to hear back. However the government recently released a faster process to receive your nonprofit status in as little as tweleve weeks called the 1023EZ form.

How to get your non-profit started tax-exempt organization:
1) Complete the 1023EZ online application
2) Pay $275
3) Have less than $50,000 in assets
4) Have a mission statement

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