Prior to 2014, nonprofit organizations had no choice but to file a 40-page Form 1023 with an expected completion time of more than nine hours to have their tax-exempt status approved. Form 1023 requires the filing of the nonprofit’s Articles and Bylaws and responses to numerous questions regarding the activities, financial plans, and overall compliance of the nonprofit with the requirements that must be met to be entitled to approved charity status.

Once a Form 1023 is filed, it is assigned to an IRS specialist who reviews the organizational documents, the detailed description of the organization’s current and planned activities, the responses to the qualification questions, and the prospective 3-year financial statements and either issues a favorable determination letter or sends a request for further information that must be received before a letter is issued.

You do not have to do this alone. Call today for your free consultation and we will get you started on the right path to form your nonprofit.