Frequently Asked Questions
What is a 501 C3?
A 501 C3 is a nonprofit corporation status issued by the Internal Revenue service. It is also known as an organization with tax exempt status. An organization must be approved by the Internal Revenue Service in order to become tax exempt. Once a corporation has received its 501C approval letter, the corporation is registered as a tax exempt corporation and no longer has to pay corporate income taxes.
Why should I choose NonProfitsOnTheGo to help prepare my forms?
The process of getting approved with the IRS can be very tedious and at times frustrating. We here at NonProfitsOnTheGo have many years of experience and can help make your application and approval experience smooth and easy. Since 2004, we have a 100 percent approval rate and are looking forward to helping you get approved!
Can I apply for the 501 C EZ streamline application?
Only organizations that have a revenue of $50,000 or less can qualify to submit the 501C EZ streamline application. In addition, not all types of organizations qualify for the streamline application. Examples include: hospitals, schools and churches as well as others. If you have questions, contact NonprofitsOnTheGo and we can help determine if your organization qualifies.
How do I know if my vision qualifies for a 501C3 status?
Your idea should clearly indicate that your goal is to service the community at large. Also, the name "501C3" is the most common form, however, the IRS has 29 different types of 501C s (nonprofits). The sections depend on the type or nonprofit organization that you desire to form. NonProfitsOnThe Go can help you determine your proper 501C status.
Here are a few examples of qualifying entities:
Churches, community development services, youth services, schools, health car services, food pantry services, home health care agencies, alumni associations, booster clubs, childcare centers, homeless services and shelters, group homes, housing services, employment services, counseling agencies, fraternities and sororities, elderly services, amateur sports, animal care shelters and services, all community outreach visions.
What are the benefit of having a 501C3 Status?
There are many benefits for starting a nonprofit organization, here are a few:
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Receive financial and other donations from individuals and businesses
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Officially recognized by as a registered nonprofit organization
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Qualify for federal, foundation, state and local grants
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Exempt from paying corporate income taxes
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Countless discounts for many products and services including food, mailing, advertising, etc.
Once I receive my 501 C3 Status from the IRS, can I apply for grants?
Yes, most granting organizations require that applicants have official 501C status prior to applying for grants.
