Application & Approval Process for 501(c)3 Status
Learn which organizations are eligible to apply, how to apply, and what to expect after applying
- Product Number: 2240171WAU
- Publication Date: 3/18/2024
- Length: 2 hours CLE Credit Note
- Copyright: © 2024 MCLE, Inc.
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Product Description
Product Description
Internal Revenue Code section 501(c)(3) describes a subset of nonprofits: those organized and operated exclusively for religious, charitable, scientific, testing-for-public safety, literary, or educational purposes, or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals.
Status as a 501(c)(3) organization confers many advantages, not the least of which are exemption from federal income tax and the ability to receive tax-deductible contributions. In most cases, nonprofit organizations must apply to the IRS to be recognized as exempt under section 501(c)(3). Learn which organizations are eligible to apply, how to apply, and what to expect after applying.
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Agenda
Agenda & Materials
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12:00 - 12:05 pm
Welcome and Introduction
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12:05 - 12:10 pm
Benefits of 501(c)(3) status, downsides of and alternatives to forming a new charity
on demand video Add to CartRobert T. Leahy, Esq., , Boston
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12:10 - 12:15 pm
Requirements for tax-exempt status under section 501(c)(3)
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12:15 - 12:20 pm
Organizations not required to apply for 501(c)(3) status
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12:20 - 12:30 pm
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12:30 - 12:40 pm
Steps to take before applying
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12:40 - 12:50 pm
Completing and submitting the application
on demand video Add to CartRobert T. Leahy, Esq., , Boston
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12:50 - 1:05 pm
Timing and process of IRS review and approval
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1:05 - 1:15 pm
Requesting Expedited IRS Review of Form 1023
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1:15 - 1:25 pm
Determination letter: effective date and reliance
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1:30 - 1:40 pm
Obligations While the Application Is Pending
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1:40 - 1:45 pm
Obligations after obtaining 501(c)(3) status
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1:45 - 1:50 pm
Applying for Reinstatement of 501(c)(3) Status After Revocation
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1:50 - 1:55 pm
Options if an Application Is Denied
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1:55 - 2:00 pm
Please Note
MCLE on demand programs are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only through a link included on the on demand program page.
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