>I have a separate hand-written ledger which "fleshes out" the entries of
>the debit/credits in the checking account.  I also have a database
>tracking ferrets in/out, conditions, surgeries performed, color, ages,
>reason for release, tattoos, adoption fees, etc; a spreadsheet which
>breaks down costs/donations by amount and donator; and a ledger which
>tracks other than monetary donations (cages, food, bedding, litter).
 
Lisa,
 
You are to be commended.  This sounds like a wonderful system!  Running a
ferret shelter should be handled just like any other business so that no
questions that arise.  Donors appreciate this.  If you are non-profit or
tax-exempt, you are probably required *by law* to do this!
 
>>The cost of filing for nonprofit status varies from state to state, but
>>the process is typically simple and inexpensive (a single form and $20 in
>>Oregon, for example).
 
>I don't think that this is correct - when I filed with the IRS for
>determination of 501(3)c, it was $175.00, and it did not vary by
>geographic location.
 
Leonard was correct.  The rules (and costs) for filing for non-profit
status is determined by the state.  In Oregon, the cost to file for
*non-profit* status is $20.00.  It is a simple form but carries the burden
of conducting yourself in a certain manner.  You are accountable to the
state in which you file.
 
However, the cost to file for federal IRS 501(c)(3) - commonly called
"tax-exempt" status - varies only depending upon anticipated income.  I
believe it is either $175 or $500.00.  And you are accountable to the IRS.
 
 -Carla
[Posted in FML issue 2876]