June 21, 2022
Category:
- Nonprofit
Want to set up a nonprofit organization but don't know where to start? SEK's Member of the Firm Greg Hall shares some tips and answers some common questions many organizations have when getting their nonprofit up and running. A special thanks to Lucy Zander, Executive Director of the United Way of Carlisle & Cumberland County, for moderating this session!
Timestamp questions:
- 00:50 - I have an idea for an organization to help disadvantaged individuals in our community. How do I go about setting up an organization to support this mission?
- 01:32 - Why would you recommend an organization be set up as a corporation?
- 02:06 - Is there anything I need to do beyond obtaining the articles of incorporation to be a nonprofit entity?
- 03:29 - There can be tax exempt entities other than public charities. What types of entities would these be?
- 04:08 - One of the recognized benefits of being a public charity is the ability to accept donations which are tax deductible by donors. What other benefits, if any, exist?
- 05:34 - In order to be a public charity or a 501(c)(3) entity, I would need to complete the Form 1023. What is involved in this process?
- 07:36 - What if we cannot complete the Form 1023EZ? What is involved in preparing the more complex Form 1023?
- 08:24 - Once the Form 1023 is filed, is the entity now tax exempt?
- 09:16 - How long does the Form 1023 take to be approved?
- 09:41 - While the application for exemption is pending, can we solicit donations?
- 10:07 - Once I receive the official notice of approval as a tax exempt organization, is there anything else I need to do?
- 11:35 - Why would an organization want to file a more complex form if it is not required by the IRS?
- 12:10 - When are the various Forms due to the IRS?
- 12:54 - After filing Form 990 with the IRS, are there any other forms I need to file?
- 14:12 - Can you elaborate on the state filing requirements?
- 14:43 - What would be considered a solicitation for a nonprofit organization?
- 15:12 - You mentioned certain public charities are exempt. What public charities would be exempt?
- 15:49 - Is there a fee or other requirements as part of The Solicitation of Funds for Charitable Purposes Act?
