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 [...]
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 [...]
Most states require a minimum of three directors to complete the articles of incorporation and pay the state filing fee to form a nonprofit corporation. Some states require directors to be at least 18 years of age. Call us to see if there is an age restriction in your state.
Once your articles have been filed by the Secretary of State, we can help you obtain your Tax ID number. If you need your Tax ID number before we have received the filing back from the Secretary of State, please contact us.
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For most states, you may need to get a State Tax ID in addition to your Federal EIN. Your Federal Tax Identification Number or "EIN" is the unique number the IRS assigns to your business. An EIN may also be referred to as a Federal Tax Identification Number, Tax ID, or Federal Tax ID. In [...]
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 [...]
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 [...]
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 [...]
The answer depends on the state in question. In most states the answer is no. A handful of states have a simple, one- or two-page form that must be prepared. At this time, California is the only state that requires a separate application process whose length and detail rivals the IRS application process. In California, [...]