Printable Form Instructions 1023 Cape Coral Florida 2024-2025

Printable Form Instructions 1023 Cape Coral Florida: What You Should Know

Form 1023-EZ is a streamlined version of Form 1023. Form 1023-EZ is used for applications in certain situations or circumstances. Specifically: Organizations whose primary purpose is engaged in social welfare activities and have annual gross receipts from qualifying charitable contributions in excess of 5,000. Qualifying contributions may include donations and gifts of real and personal property, cash, and other property. The organization's annual gross receipts can include certain expenses, such as the cost of supplies (such as office supplies and paper) as well as income from other sources. An organization's expenses (including the cost of supplies) are limited to only those not included on IRS Form 1023 but which are common, recurring expenses, such as rent and phone charges. The organization is organized exclusively for religious, educational, scientific, literary, or charitable purposes, or to foster national or international amateur sports. The organization seeks to protect and preserve human life and health. Note: Organizations may qualify for recognition under the Internal Revenue Code of 1986, based on the following: Organizations with income greater than 500,000 and not subject to tax under Section 501(c)(3), Organizations that did not make a qualifying contribution and were not engaged in social welfare activities and do not make the first 5,000 in annual qualifying contributions before 2018, Charities that are organized, operated, or substantially controlled (by the contributions of 2 or more persons) solely to make qualifying distributions to individuals or businesses described in Section 501(c)(3) and Nonprofit organizations that have received more than 75% of their gross receipts for the taxable year from contributions of 5,000 or more. Note: A nonprofit organization is a trade or business established for a noble or charitable purpose, and the nonprofit organization's primary function is its conduct of the organization's principal source of income, whether from its own earnings or from other sources, and such organization is organized exclusively for such purpose. This term does not include a church or other religious organization. Income and Gross Receipts : The organization's annual gross receipts are limited to that portion allocated to its services, programs, and activities as follows: Total of gross receipts less exempt-income amount.

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