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Establishing a 501(c)3

Establishing a 501(c)3. Sabrina Campbell Treasurer American Association of Blacks in Energy December 2009. Getting Started. Apply for EIN an Employee Identification Number File Articles of Incorporation in your Chapter’s State Have By-laws to Attach to IRS Filing

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Establishing a 501(c)3

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  1. Establishing a 501(c)3 Sabrina Campbell Treasurer American Association of Blacks in Energy December 2009

  2. Getting Started • Apply for EIN an Employee Identification Number • File Articles of Incorporation in your Chapter’s State • Have By-laws to Attach to IRS Filing • File IRS Form 1023, Application for Recognition of Exemption • Include Filing Fee (assessed on a sliding scale See Slide _)

  3. Power of Attorney Declaration • Must File Form 2848 with application • Authorizes individual designated to among other things, receive taxpayer information • Power of Attorney designation can be given to an Officer of the Chapter • This power of attorney authorizes someone to talk to the IRS on the Chapter’s behalf

  4. EIN Why Where • Obtain Form at: www.irs.gov/pub/irs-pdf/fss4.pdf • Obtain form instructions at: ftp.irs.gov/pub/irs-pdf/iss4.pdf • EIN also referred to as the federal ID number • EIN used as IRS identifier • An EIN is needed to apply for tax exemption status • Use IRS form SS-4 to file Once EIN obtained goes on page 1 of Form 1023 Application

  5. Articles of Incorporation • If need to prepare can look to IRS Publication 557 for guidance • What is it: a legal document that describes your organization • What your organization is viewed as is governed by the laws of your particular State • Why you want to qualify as nonprofit under State law • Exempts Chapter from certain other taxes under State law

  6. Checklist before Filing • Do advance work on documentation • Ensure your Mailing/P.O. Box Address for the Chapter is in order • Must have funds to pay the application fee • Be prepared to wait The Filing Fee • Based on a sliding scale must be made payable to the United States Treasury • If Chapter gross receipts exceed $10,000 per year, over a 4 yr. period fee is $750 • If Chapter gross receipts are less than $10,000 per year, over a 4 yr. period fee is $300.

  7. Checklist before FilingAssemble application in following order • Form 1023 • Form 2848

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