Has anyone gone through the process of applying fo...
# generals
sparse-church-6144
10/29/2023, 3:50 PMHas anyone gone through the process of applying for a 501-c3 for a shul recently and can share any resources that they found useful. TYIA!
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mysterious-tomato-10057
10/29/2023, 4:31 PMDon't hire someone to do it. You can do it yourself! Do you have specific questions?
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sparse-church-6144
10/29/2023, 4:32 PMFrankly, I have no idea where to start. I haven't even Googled it yet but was wondering if anyone had a checklist or recommendations.
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mysterious-tomato-10057
10/29/2023, 4:32 PMDo you have a non profit already and you want to file for 501c3 status?
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sparse-church-6144
10/29/2023, 4:33 PMI don't know the difference, the shul definitely doesn't make a profit - lol. It has been around for a while and has bank accounts and even a web page https://www.beisshmueltzvi.org/about/
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mysterious-tomato-10057
10/29/2023, 4:34 PMIf it has a bank account, do you know the EIN?
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sparse-church-6144
10/29/2023, 4:34 PMI can get that - I don't have it offhand
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mysterious-tomato-10057
10/29/2023, 4:36 PMKk so if it's already an organization (assuming they made it a non profit) all you do is file a form 1023 and pay 600 dollars and then wait and when it gets accepted your non profit has 501c3 status. One sec I'll get a link.
mysterious-tomato-10057
10/29/2023, 4:37 PMs
sparse-church-6144
10/29/2023, 4:37 PMthank you!
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mysterious-tomato-10057
10/29/2023, 4:38 PMIt can take a while to be accepted but you are tax exempt from the day you apply, not the day your application is accepted.
mysterious-tomato-10057
10/29/2023, 4:38 PMTakes around 6 months.
mysterious-tomato-10057
10/29/2023, 4:39 PMYou are not eligible to use the 1023EZ you need to do the full 1023 I linked above.
mysterious-tomato-10057
10/29/2023, 4:39 PM#imnotalawyer
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rich-insurance-32675
10/29/2023, 4:48 PMNot sure how it is in NJ, but in MD if you are incorporated a religious corporation, it makes the process easier overall
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mysterious-tomato-10057
10/29/2023, 4:49 PMWhat do you mean by easier? Federally it's just one form no matter what state you are in.
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rich-insurance-32675
10/29/2023, 6:44 PMA religious corporation on the state level is might be automatically tax exempt on the federal level without a formal 501c3. When we formed our shul we were told that we didn’t need a 501c3 but its a good idea to file one anyway. But IANAL.
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mysterious-tomato-10057
10/29/2023, 6:44 PMBut the question was filing for a 501c3! 😉
For example, if you want to accept DAF donations or get free credit card processing from PayPal, you need a 501c3.
mysterious-tomato-10057
10/29/2023, 6:45 PMOr get a free slack license or all the techsoup discounts, you need a formal 501c3 regardless.
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sparse-church-6144
10/29/2023, 6:45 PMthanks @rich-insurance-32675! I wanted to ask about that since I learned about that just now as well. It looks like @mysterious-tomato-10057 answered the question about the benefits of a 501c3 though
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mysterious-tomato-10057
10/29/2023, 6:46 PMI know the pain bc a ton of stuff frum.finance wants to do is waiting for that 1023 to be accepted 😭