Hi guys, thanks so much for watching The Social Life, the place to be for entrepreneurs. Today, I really wanted to talk to you all about what happens after you get your 501c3 eligible status. What that means is that you've actually filed for your 501C3 and now you're just waiting to hear back from the IRS as to whether you've received your 501C3 status or not. So, with that being said, there's a lot of anticipation when you do that. I totally understand that piece, I've been there. There's a ton of anticipation and you may not know what to do at that point. Like, okay I filed, so now what? Basically, I have a few tips for you to get started so that you don't just sit and wait. This is a great time to start doing a number of things that can really set your organization up to be ready for those donations to come in and ready to really hit the ground running when your organization receives that status. Because I know you're going to get that. When you're ready to move forward with your 501C3 eligibility or your 501C3 status once you receive it, here are a few things that you can do in the meantime. The first one is to do a happy dance. No, no, really. The first one is to just pat yourself on the back. You did this. You got through getting the 501C3 status, whether you went through my course or you went through your own means, or you used the book, or you did some research. However you did it, you watched the video. And if you watched this "Start Your Nonprofit in Seven Steps" video, that's a great place to start. If you did the course, I'm leaving a link...
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1023 example Form: What You Should Know
The IRS released the Form 1023 for application to nonprofit organizations. IRS 1023 (Rev. July 22, 2016) [FREQUENTLY ASKED QUESTIONS] Question: Do you have any requirements from an organization for a 501(c)(3) non-profit (charitable entity organization) to include the following? Answer: Yes. Q4: Must a 501(c)(3) organization use a narrative description of the following: 1. Organization's specific purpose. 2. Activities authorized by its operating plan 1. Organization's specific purpose. 2. Activities authorized by its operating plan. 1. Organization's specific purpose. 2. Activities authorized by its operating plan. Q4A: How should an organization include the following information in a narrative description required by Section 501(c)(3) of the Internal Revenue Code?: a. If the organization receives a grant or loan from a federal, state, or local government, including a. State general funds, b. Funds from a state and local law enforcement assistance/pursuance fund, c. A grant or loan from a 1. State law enforcement authority, b. Federal law enforcement authority, c. Funds from a federal Department of Homeland Security 2. State law enforcement fund, d. Federal law enforcement authority, e. Funds from the Federal Emergency Management 3. Department's Federal Response Fund. 1. State law enforcement authority 2. Federal law enforcement authority 4. Funds from the Federal Emergency Management (fees, allocations, reimbursements). 1. State law enforcement authority 2. Federal law enforcement authority For details on each federal agency, refer to Q5 : Does the narrative description of the organization have to comply with the requirements of: a. Section 513(a) of Title 26, U.S.C. � 501(c)(3): a. To state the organization's 1. Name and principal place of business or principal place of management. b. Name of each 1. Person, group, or business incorporated, active, or existing, under this title. c. Principal place of storage, or any other place where the organization maintains and acquires its property or records. 2. Principal place of payment. 3. Principal place of operation. 2. Principal place of business. 3.
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