The IRS 501(c)(3) application is completed upon approval of form 1023 or, in some qualified circumstances, form 1023-EZ. The latter is simply an expedited version of the former. The full form costs $600 to file, and the expedited costs $275. The IRS estimates they may take over 100 hours to complete, so hiring a specialist is recommended.IRS Application for 501(c)(3)
IRS 501(c)(3) Application FAQs
A 501(c)(3) organization is a nonprofit organization with tax exempt status that is dedicated to the general well-being of society.
The application for 501(c)(3) is form 1023 (or 1023-EZ for smaller organizations). These forms are both available on the IRS website.
A 501(c)(3) organization is tax exempt so long as it remains true to its stated mission and remains compliant with the IRS.
501(c)(3) is the internal revenue code (IRC) section for organizations with tax exempt status. 501(c)(3) falls under internal revenue code 501(c).
To be eligible for 501(c)(3) status, an organization must be organized and operated exclusively for religious, educational, scientific or other charitable purposes. The organization's activities must not benefit any private individuals or shareholders.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
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