Are you reasoning about beginning a non profit charity, but are not sure where to start or how to go about it? Have you heard of the term "501(c)(3)" but are not exactly sure what that term means or what point is attached to it? You are probably not alone. This article hopes to shed light on some of the issues involved in creating and setting up a non profit charitable assosication in Florida. The article also attempts to describe the basic steps one must take in going about setting up a charity without getting into too much confusing detail. If you are looking to set up a non profit in Florida, the basic steps to be taken are as follows:
• Once you have your proposed charitable mission in mind, you should incorporate. To merge a non profit, you must put in order and file articles of incorporation with the Florida division of Corporations. The articles of incorporation is the document which "creates" your non profit under state law. The articles contains, among other provisions, the name of the legal entity, address of the corporation, and name and address of the registered agent. Additionally, the articles must state the definite purpose for which the corporation is organized. The articles must also consist of certain provisions which are required by the Irs. In order to file the articles of incorporation (and generate your non profit), you must submit the document to the Florida division of Corporations along with the state filing fee of .00. The filing fee must be made payable to the "Florida division of State." You must send the articles to the division of Corporations, whose address is P.O. Box 6327, Tallahassee, Florida 32314.
Irs Tax Form 1040
• After incorporation, you should regain an Employment Identification number ("Ein") for your non profit. To regain an Ein, you can apply for it with the Irs online, via fax, or over the phone. You can reach the Irs by visiting their website at http://www.irs.gov.
• To invent an Irs-recognized charity, the next major step is to apply for 501(c)(3) tax exemption status with the Irs. This step involves filling out a relatively detailed application known as Form 1023, Application for Recognition of Exemption. The purpose of completing this form is so that the Irs will recognize your assosication as a tax exempt charity. Moreover, once you have obtained such exemption status, donors who contribute to your charity will be able to make donations that are tax deductible, to the extent permitted by law. In order to regain such tax exemption status, you must complete Form 1023 and submit the completed application to the Irs along with the applicable Irs application fee. To regain a copy of the application, you can taste the Irs at 1-800-829-1040.
After the form is submitted to the Irs, within about 3 to 5 months thereafter, the Irs will retort by sending to you a estimation Letter which formally recognizes your entity as a 501(c)(3). If your application is incomplete or a question arises, the Irs will edify you of this, which may follow in delay of the victorious processing of your application.
• Once you have received the estimation Letter from the Irs, you should edify the Florida division of revenue of your charity's tax exemption status by sending a copy of your Irs estimation Letter to that Department. The Florida division of revenue can be reached at 1-800-352-3671.
• an additional one issue to consider is the solicitation of donations. If you plan to solicit donations from the normal communal to support your charity's mission, then you must register your charity with the State of Florida. The registration process is administered straight through the Florida division of Agriculture and consumer Services. In order to register to solicit donations in Florida, you must regain a copy of the registration application from the Florida division of Agriculture and consumer Services, fill it out, and then submit the completed application to that division along with the applicable registration fee. You can regain the registration application by contacting the division of Agriculture and consumer Services at 1-850-488-3022.
beginning a Non profit 501(c)(3) In Florida
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