FERRET-SEARCH@LISTSERV.FERRETMAILINGLIST.ORG
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Sun, 30 Mar 1997 09:27:38 -0500 |
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Jean and the Zoo Crew write:
>Find out what it would take for you to become reconized as "not for profit"
>it is not as good as "non profit" but if the IRS sees you as "not for
>profit" the people who donate to you can use it as a deduction.
Non Profit and Not For Profit are actually the same things. Non Profit is
a term that was used in the 70's to the mid 80's.
It isn't that difficult to become Not For Profit, just time consuming and
potentially expensive.
Step 1) Incoporate in the State you Reside. (There are slightly different
rules from state to state as to what info you need to supply. Ask around
to similar organizations to look at thier Articles of Incorporation for
samples of specifics)
Step 2) Apply for Not For Profit Status with the IRS. You will have to
decide what KIND of organization you are, and how you fit in. The most
common Not For Profit falls under 501c3 in the Tax Code. This is the
section for educational organizations. I can easily see how a shelter
*COULD* claim this status/
Step 3) Apply for State Tax Exemption.
Step 4) Apply for Federal Tax Exemption.
Step 5) Find out what your regional rules are and see what tax exemption
you can get from regional government.
I recommend you speak with a lawyer to get all the details for your area.
I hope this helps some folks out there.
Cheers!
Matthew.
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J. Matthew Saunders--The Arts in Technology
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"We have to work in the theatre of our own time,
with the tools of our own time"
--Robert Edmond Jones
Check out: http://dogstar.bevd.blacksburg.va.us/virtual/virtual.html
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[Posted in FML issue 1888]
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