501(c) (3) tax i.D number

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can i get some info on how i go about getting one ??????

 

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To Start you need to contact an attorney and an accountant and alot of record keeping.

 

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what is the cost ballpark it if you can

 

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Speaking as both, the application can be completed by someone who is not a tax attorney or CPA but it is a rather complicated form for those not used to it. THe form and instructions can be found at the links below. For the record, and this is a common misconception, there really isn't such a thing as a 501(c)(3) tax ID number. First, you need to set up a legal entity. This entity has a tax ID number (EIN) regardless of whether it is a for profit or not. All you get from the IRS if your application is approved is your tax exempt letter.

http://www.irs.gov/pub/irs-pdf/f1023.pdf

http://www.irs.gov/pub/irs-pdf/i1023.pdf

 

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At the time we did it (more than 10yrs ago) we had an attorney do alot of the work gratis for us he was a friend or relative of one of the members.
I think JoeA might be able to give you a better idea of what is involved.
As posted above alot of the leg work can be done yourself, but if everything is not done correctly they bounce the paperwork back and you lose alot of time going back and forth.

 

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41softball,

You are probably looking at between $1600-$2,000 including the filing fee for the application fee which I think is $600

 

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Nutcase, that is the best thing if you can manage it. My daughter is on a team in our organization and I was a "Nutcase" and volunteered to do everything.

 

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It is a lot of work but it is worth it. Joe wil probably chime in later and tell you the same.

 

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if memory serves me well, you need to be in existence or part of an organization that has been in existence for at least three years
that's what it was when our group filed a few years ago
that keeps fly-by-night spring-up organizations out of the mix and the legit folks in

 

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the reason iam asking is that i am starting a middle school team or i should say club not school sponsored .

 

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catsback, that is not correct. You can set up an entity and immediately file Form 1023-Application for Exempt status. I just went through the process. I got our letter in about 2 months after I filed.

 

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I went through the process a couple of years ago. It was a lot of work, but it was not overwhelming. There is a form I filed with the State of Ohio first establishing the organization as a business and getting a tax ID number. I think the next thing I did was apply for a federal tax ID number. The last thing I did was apply for the 501(c)(3) status.

You don't have to be in existence for three years; actually, you are better off if you are new. I also searched online for Articles of Incorporation of different organizations to help word the one we created. When completing the paperwork, be sure to call the IRS if you have questions. They are very helpful.

I think the total cost was around $600-700, and it took a couple of months to hear back that we had received our status.

 

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I just went through the process for Urbana Girls Fastpitch. I contacted the I.R.S. and a lady explained everything i needed to do. First i needed to get a tax ID number. she walked me through it online while i was on the phone with her. (The tax ID number is free) Then she asked me how much money i thought i was going to go through for this year. If it is under $10000.00 then the filing fee is $300.00. if was would be going above $10000.00 then the filing fee is $750.00. The lady from the I.R.S. was very helpful. gave me tips on what needed filled out. To save a whole lot of money for a lawyer, just call the I.R.S. they will help. my total cost for my 501 c 3 was $300 plus the time to fill out the forms and the cost to mail it.

If you need my help let me know.

Jon allison
jon@ctcn.net

 

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41 softball

Go to www.irs.gov/eo for information on how to apply for tax -exempt status . I set one up about 6 years ago and it was easy. The cost was under $200 and that included postage. You DO NOT have to get an lawyer unless you like wasting money.

If you can read and fill out forms anyone can do it.

You might also want to attend the One-Day Workshop held in Columbus on May 20, 21, or 22 9am - 4pm cost is $45.00 pre reg is required. You can register online at www.irsworkshops.eventsdesigner.com

 

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Our total cost was around $1500.00.

 

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41softball, Our HS just did this and it cost 1800.00. You may PM mvxpress on this because he's the one that just did it. I'm sure he would let you know what you need.

 

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It can take you a while to fill out the paper work but it is worth having it. ?We have found that it gives us many avenues to earn money for our teams.

 

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Just saw this thread. Everyone above has explained things as well as I could. I don't know that I'd start one for a middle school club team if it's only going to be a one or two-year deal.

 

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i would like to say thank you to everybody for all of the good info on this it was very helpful