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CD0401 Checklist For Forming A Nonprofit
CD0401 Checklist For Forming A Nonprofit
1. Choose a name for your nonprofit. (While you’re at it, select and reserve a Web
domain name.)
2. Form your incorporating board of directors (often only three people are needed).
4. Wait for a response from your state. (In some states you can expedite the process by
paying a surcharge.)
5. Obtain a Federal Employer Identification Number, submitting IRS Form SS-4 (See
the CD for Form SS-4).
8. Review IRS Publication 557, instructions for filing for tax exemption. (See the CD
for these instructions or call 1-800-TAX-FORM.)
9. File IRS Form 1023 if you are applying to become a 501(c)(3) tax exempt
organization (preferably within 15 months of the date of incorporation). Other kinds
of nonprofits organizations may file Form 1024. (See the CD-ROM for a copy of
Form 1023.)
10. Pay filing fees of $500 if you anticipate having revenue of over $10,000 per year, or
$150 if you anticipate having revenue of less than $10,000 per year and the
accompanying Form 8718.
11. Sit back and relex. Celebrate when your letter of determination arrives!
12. Register as a charity within your state (See the CD for Web sites of appropriate state
offices.) While you’re at it, check your state’s laws: some require you to apply for a
separate (in addition to federal) tax exemption.
1. Consider using a fiscal sponsor so you can begin offering programs and developing a
reputation.
2. Once you’ve incorporated and filed IRS Form 1023 you can begin to operate and
even solicit contributions as long as you tell donors the application has been filed.