REQUIRED INFORMATION TO PREPARE
THE 501(c)(3) EXEMPTION
If an organization does not have the following items, we will assist in providing them. Some of the requests below may not apply or are necessary to all organizations for tax exempt status.
Name, address, e-mail, website, phone number.
Contact person(s), phone number and e-mail.
Person name to obtain Corporation document and EIN (if necessary).
> DESCRIPTION OF ORGANIZATION
Describe completely and in detail your past, present, and planned activities. Do not refer to or repeat the purposes in your organizing document. For each past, present, or planned activity, include information that answers the following questions:
What is the activity?
Who conducts the activity?
Where is the activity conducted?
What percentage of your total time is allocated to the activity?
How is the activity funded (for example, donations, fees, etc.) and what percentage of your overall expenses is allocated to this activity?
How does the activity further your exempt purposes?
> ARTICLES OF INCORPORATION
Contains the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation. Without the proper language in the articles of incorporation the IRS will not grant the applying organization tax exempt status.
> EMPLOYER IDENTIFICATION NUMBER (EIN)
The organization’s identification number obtained from the IRS.
> BY-LAWS OF THE ORGANIZATION
The governing document of the organization.
> INFORMATION ON BOARD MEMBERS
Name and address of each board member (Trustees/Directors).
> REVENUE & EXPENSE STATEMENTS
This is an absolute must! The IRS requires 4 years of financial statements for existing organizations and 2 years of forecasted financial statements for start-ups.
> ORGANIZATION ASSESTS
Total assets owned by the organization (i.e., cash, furniture, equipment, property, vehicles, pledges etc...)
> ORGANIZATION LIABILITIES
Total liabilities acquired by the organization (i.e., mortgages, accounts payable, loans, etc...)
Financial compensation to officers, board members (Trustees/Directors).
> FINANCIAL SUPPORT
Ways the organization receives financial support (i.e., contributions, tithes & offerings, fundraisers, rental income, etc...)
> FUND RAISING PROGRAM
Description of fundraising events.