Why should I use James Chestnut & Associates to assist me in obtaining 501c3 tax-exempt status?

James Chestnut and Associates are experts in the field of nonprofit and tax-exempt organizations and specialize in helping its clients obtain their 501c3 tax-exempt status. With over 26 years of experience we will work with you to bring your operations into compliance with federal guidelines concerning exempt organizations, and we confident that, within the parameters [...]

By |2017-05-04T20:13:07+00:00March 24th, 2017||0 Comments

How do I contact James Chestnut & Associates?

Address: James Chestnut & Associates, Inc 15334 Teal Park Drive Humble, TX 77396 * Please be sure to include your organizations name on all correspondence. Email: Need more information? Please email us at [email protected] to ask a Nonprofit specialist. Contact Info: Telephone: (281) 441-4431 Fax: (281) 441-4927 Hours of Operation: Our normal business operating hours [...]

By |2017-05-04T20:10:03+00:00March 24th, 2017||0 Comments

Can I start receiving contributions before my 501c3 is approved?

Generally, yes. While an organization's exemption application is waiting for approval from the IRS, the organization may operate as a tax-exempt organization. If an annual exempt organization return is due, the organization must file it, indicating that its application is pending. Although donors have no assurance that contributions are tax-deductible for federal income tax purposes [...]

By |2017-03-24T19:57:01+00:00March 24th, 2017||0 Comments

What information will be required on IRS Form 1023?

In order for the IRS to make a determination, specific questions must be answered relative to the organization's legal structure, its governing board, and potential conflicts of interest. More importantly, pages of detailed questions concerning the organization's activities must be answered. This is in addition to a two-year budget (new organizations) or three years of [...]

By |2017-03-24T19:57:58+00:00March 24th, 2017||0 Comments

What activities can jeopardize tax-exempt status?

For 501c3s, the four main activities that can jeopardize the organization's tax-exempt status are: 1. Activity that results in private benefit or inurement 2. Lobbying activity, if it constitutes a substantial part of the organization's overall activities or if it exceeds a predetermined dollar amount 3. Any political campaign activity 4. Unrelated business activity that [...]

By |2017-03-24T19:58:38+00:00March 24th, 2017||0 Comments
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