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Things to learn today

 What is a nonprofit?

› What types of nonprofits are recognized by the IRS?

Should

your organization be a §501(c)(3)?

› Pros and Cons of official recognition

How

do you become a §501(c)(3)?

› Legal and philosophical steps to nonprofit status
Simple Definition

A NonProfit organization is
a

corporation
organized and operated
exclusively for the public
good
Tax Exempt: The organization does not
have to pay income tax on money earned or
received through donations and grants.
Tax Deductible: Contributions made to the
organization are deductible on the donor’s
income tax return.
Note:
You can be Tax Exempt and NOT Tax Deductible, but you
cannot be Tax Deductible without being Tax Exempt.
501(c)(3)

501(c)(Other)

Does not pay
Income Tax

Does not pay
Income Tax

Donations
Deductible to Donor

Donations NOT
deductible

Qualifies for Grants

Does NOT qualify
for Grants
Only §501(c)(3) organization are BOTH
Tax Exempt AND Tax Deductible:
Charitable
Religious
Schools/Education

Science
Literature
Testing

for Public Safety
Fostering Amateur Sports Competition
Prevention of Cruelty to Animals and
Children
Tax Exempt but NOT Tax Deductible
Civic

Leagues/Social Welfare
Organizations
› Examples

 Volunteer Fire Department
 Community Associations

Labor/Agricultural/Horticultural
› Examples

 Labor Unions
 Ag/Horticultural development groups

Business

Leagues

› Examples

 Chamber of Commerce
Tax Exempt but NOT Tax Deductible
Social

and Recreation Clubs

› Examples






Alumni Associations
Hobby Clubs
Garden Clubs
Amateur Sports Clubs (not part of a competition organization)

Fraternal

Societies

› Distinguish between charitable purpose and social purpose for

deductibility of donations
› Examples:
 Psi Iota Xi and Tri-Kappa are Exempt and deductible, but
 Phi Delta Psi and Gamma Nu are NOT deductible organizations
Tax Exempt but NOT Tax Deductible
For

the sake of completeness, here are
the remaining classifications of NonProfits
under IRS Code:











Employees’ Associations
Local Benevolent Life Insurance Associations
Telephone Companies
Cooperative Associations
Cemetery Companies
Credit Unions and other Mutual Financial Orgs.
Veterans Organizations
Group Legal Service Plans
Black Lung Benefit Trusts
Title Holding Corporations for other NonProfits
What if my organization is not listed under §501(c)(3)?
Generally,

if your organization does not fit
the tax exempt definition, it can be a
nonprofit, but not a tax exempt nonprofit:
› Example: Arts organizations are NOT specifically listed

as eligible for tax exempt status.

However, all is not lost!
› An arts group (or other nonprofit group that does not fit
the “definition”) can become nonprofit by electing one
of the OTHER nonprofit types: Education, Charitable, etc.
It depends upon what your goals are.
If you have a REASON to be
a tax-exempt/tax-deductible
organization, you can structure your
organization to comply with the
§501(c)(3) rules.
You should consider §501(c)(3) status if you...
Have

a charitable purpose (“for the pubic good”)
Handle money (more than simply “dues”)
Receive more then $5,000 per year
Apply for grant funds (local, state, national)
Are part of a state/national organization (more on
this, later)
Give money away (scholarships, etc.)
Are (or wish to be) publically supported (that
is, receive money from general public)
Tax Exempt, but NOT Tax Deductible
If

you are a corporation or other membership
organization;
If your primary purpose is not “charitable;”
› Social organizations

› Hobbyists

If you take in money;
› Dues
› Fund Raising for activities

If you have a business purpose.
› Reason to be in existence – share common
interests, activities, or social interaction


Nonprofit Corporations are protected by
Indiana law
› If Board Members act within the scope of

their duties, they are protected against
lawsuits
› This is important for organizations that handle
money or have responsibilities for people
(especially children)
› This is important for organizations that might
have “riskier” activities
You

can apply for/receive public grant funds
Donations are tax-deductible (for §501(c)(3) only)
Your income may be exempt from tax
Purchases may be exempt from sales tax
Representation of Goals in the Community
Financial Planning and Fund Raising
Affiliation with other non profits (including state or
national organizations)
Credibility, Continuity and Longevity
Government requirements
What NonProfits can and cannot do –

NonProfits CAN:
› Solicit donations from individuals and corporations
(which may or may not be tax-deductible)
› Pursue recognition of their cause and
accomplishment of their purpose in the community
NonProfits CANNOT:
› Lobby for political change or legislation
› Engage in a “business” for profit
› Give money to members (“inure to benefit of...”)
Official Tax Exempt status is not for everyone.
If

you are a small organization, the process may be more
than you want to attempt ($$$, time, paperwork)
If you can use another organization as a money
conduit, (to apply for grants, award scholarships, etc.)
If you are part of a larger organization, you may be under
its tax exempt umbrella
If you have a political agenda as the primary purpose of
your organization you are excluded from 501(c)(3)
If you have < $5,000 per year annual income, or are a
church, you do not have to have Tax Exempt Status to be
a NonProfit (but you should consider it, anyway)
Less
Protection
Less
“Exempt”

More
Protection
More
“Exempt”

Unincorporated
Association

Incorporated
Nonprofit (Not
IRS-Exempt)
501(c) (Other) – Taxexempt not taxdeductible

501(c)(3) – Tax-exempt and
Tax-deductible
▪ Determine your purpose
– what do you wish to
accomplish as a
NonProfit?
The Details of Incorporation and
Application for Tax Exempt Status

This is how you “get -er- done”
Handout: 10 Formalities for Starting a Nonprofit

Minimum Required Documents for Tax Exempt Status:
Articles

of Incorporation - Indiana
Tax ID number - from IRS
Statement of purpose
Bylaws/Governing Document
Conflict of Interest Policy
Officers/Board of Directors
Budget (4 year prior or 3 years future)
IRS Form 1023 - Tax Exempt Application
– required for §501(c)(3) status
Handout: 7 Tips for Starting a Nonprofit

Choosing structure for your corporation
Will

you have members?

How will you fund your mission?
› Grants, Donations, Fund Raising Activities
Who will lead the organization?
› Board of Directors (required)
› Executive Director
It’s all in the appearances – Typical Corporate Structure
Board

of Directors
Officers –
›
›
›
›

President
Vice President
Secretary
Treasurer
Functional

(examples)






Executive
Budget
Finance
Fund Raising
Projects

Committees
Handout: Sample Bylaws with Members

Bylaws
 Policies
 Minutes


› Resolutions
› Record of Voting


Other Important Documents
› Financial Reports
› Contracts
Incorporation

IRS

Fees: $30 to IN Sec. of State

Tax Exempt Application User Fee:

› $400 for average annual income < $10,000

› $850 for average annual income > $10,000
Attorneys’

fees: Variable, depending upon time
involved and complexity of your situation. Expect
to pay $1,000 - $3,000.
Wait for 12 -18 months to hear from IRS
 May need to provide more information




“Final Determination Letter”
› Proof of nonprofit/tax exempt status

› Very important document – DO

NOT LOSE THIS!
Handout: Sample IN NP-20

Annual

Tax Returns

› Indiana NP-20 every year
› IRS 990 every year If annual income > $50,000

› IRS 990N every year if annual income < $50,000
Act

like a corporation

› Meetings, minutes, board of directors
› Financial reports, Government reports
› Regular professional review of financial records
For Nonprofits Earning < $50,000 per year
Pitfalls for NonProfits – word to the wise
UBIT

– Unrelated Business Income Tax

Property

Tax – You are (mostly) exempt BUT
you have to file the proper forms with County
Gaming

– Yes, you can play BINGO – BUT
Indiana has complicated gaming laws!
Filing

Requirements – keep all state and
federal forms current!
Handout: IN Sales Tax Bulletin #10
Handout: ST 105 Sales Tax Exemption Form



Indiana allows exemption collecting sales tax
for sale of goods under certain conditions:
› Sales of products by nonprofit for
fundraising purposes do not require
collection of sales tax IF –

 Not more than 30 days in a calendar year
 Sale of “mission purpose” items
 Educational materials, religious materials, etc.
Handout: IN Sales Tax Bulletin #10
Handout: ST 105 Sales Tax Exemption Form



Indiana allows exemption paying sales tax
under certain conditions:
› Purchases for “mission activities” are
exempt from sales tax
› Purchases for “non mission” uses are not
exempt
› Purchases of hotel rooms for
conferences are not exempt (mostly)
Weigh the costs and benefits
 Talk to an attorney
 Talk to your organization – what
do your members want?

Smart Stops on the Web
Handout:
Top

10 Internet Links for Nonprofits
Thank you for
your kind
attention

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Nonprofit basics 2014

  • 1.
  • 2. Things to learn today  What is a nonprofit? › What types of nonprofits are recognized by the IRS? Should your organization be a §501(c)(3)? › Pros and Cons of official recognition How do you become a §501(c)(3)? › Legal and philosophical steps to nonprofit status
  • 3. Simple Definition A NonProfit organization is a corporation organized and operated exclusively for the public good
  • 4. Tax Exempt: The organization does not have to pay income tax on money earned or received through donations and grants. Tax Deductible: Contributions made to the organization are deductible on the donor’s income tax return. Note: You can be Tax Exempt and NOT Tax Deductible, but you cannot be Tax Deductible without being Tax Exempt.
  • 5. 501(c)(3) 501(c)(Other) Does not pay Income Tax Does not pay Income Tax Donations Deductible to Donor Donations NOT deductible Qualifies for Grants Does NOT qualify for Grants
  • 6. Only §501(c)(3) organization are BOTH Tax Exempt AND Tax Deductible: Charitable Religious Schools/Education Science Literature Testing for Public Safety Fostering Amateur Sports Competition Prevention of Cruelty to Animals and Children
  • 7. Tax Exempt but NOT Tax Deductible Civic Leagues/Social Welfare Organizations › Examples  Volunteer Fire Department  Community Associations Labor/Agricultural/Horticultural › Examples  Labor Unions  Ag/Horticultural development groups Business Leagues › Examples  Chamber of Commerce
  • 8. Tax Exempt but NOT Tax Deductible Social and Recreation Clubs › Examples     Alumni Associations Hobby Clubs Garden Clubs Amateur Sports Clubs (not part of a competition organization) Fraternal Societies › Distinguish between charitable purpose and social purpose for deductibility of donations › Examples:  Psi Iota Xi and Tri-Kappa are Exempt and deductible, but  Phi Delta Psi and Gamma Nu are NOT deductible organizations
  • 9. Tax Exempt but NOT Tax Deductible For the sake of completeness, here are the remaining classifications of NonProfits under IRS Code:           Employees’ Associations Local Benevolent Life Insurance Associations Telephone Companies Cooperative Associations Cemetery Companies Credit Unions and other Mutual Financial Orgs. Veterans Organizations Group Legal Service Plans Black Lung Benefit Trusts Title Holding Corporations for other NonProfits
  • 10. What if my organization is not listed under §501(c)(3)? Generally, if your organization does not fit the tax exempt definition, it can be a nonprofit, but not a tax exempt nonprofit: › Example: Arts organizations are NOT specifically listed as eligible for tax exempt status. However, all is not lost! › An arts group (or other nonprofit group that does not fit the “definition”) can become nonprofit by electing one of the OTHER nonprofit types: Education, Charitable, etc.
  • 11. It depends upon what your goals are. If you have a REASON to be a tax-exempt/tax-deductible organization, you can structure your organization to comply with the §501(c)(3) rules.
  • 12. You should consider §501(c)(3) status if you... Have a charitable purpose (“for the pubic good”) Handle money (more than simply “dues”) Receive more then $5,000 per year Apply for grant funds (local, state, national) Are part of a state/national organization (more on this, later) Give money away (scholarships, etc.) Are (or wish to be) publically supported (that is, receive money from general public)
  • 13. Tax Exempt, but NOT Tax Deductible If you are a corporation or other membership organization; If your primary purpose is not “charitable;” › Social organizations › Hobbyists If you take in money; › Dues › Fund Raising for activities If you have a business purpose. › Reason to be in existence – share common interests, activities, or social interaction
  • 14.  Nonprofit Corporations are protected by Indiana law › If Board Members act within the scope of their duties, they are protected against lawsuits › This is important for organizations that handle money or have responsibilities for people (especially children) › This is important for organizations that might have “riskier” activities
  • 15. You can apply for/receive public grant funds Donations are tax-deductible (for §501(c)(3) only) Your income may be exempt from tax Purchases may be exempt from sales tax Representation of Goals in the Community Financial Planning and Fund Raising Affiliation with other non profits (including state or national organizations) Credibility, Continuity and Longevity Government requirements
  • 16. What NonProfits can and cannot do – NonProfits CAN: › Solicit donations from individuals and corporations (which may or may not be tax-deductible) › Pursue recognition of their cause and accomplishment of their purpose in the community NonProfits CANNOT: › Lobby for political change or legislation › Engage in a “business” for profit › Give money to members (“inure to benefit of...”)
  • 17. Official Tax Exempt status is not for everyone. If you are a small organization, the process may be more than you want to attempt ($$$, time, paperwork) If you can use another organization as a money conduit, (to apply for grants, award scholarships, etc.) If you are part of a larger organization, you may be under its tax exempt umbrella If you have a political agenda as the primary purpose of your organization you are excluded from 501(c)(3) If you have < $5,000 per year annual income, or are a church, you do not have to have Tax Exempt Status to be a NonProfit (but you should consider it, anyway)
  • 19. ▪ Determine your purpose – what do you wish to accomplish as a NonProfit?
  • 20. The Details of Incorporation and Application for Tax Exempt Status This is how you “get -er- done”
  • 21.
  • 22. Handout: 10 Formalities for Starting a Nonprofit Minimum Required Documents for Tax Exempt Status: Articles of Incorporation - Indiana Tax ID number - from IRS Statement of purpose Bylaws/Governing Document Conflict of Interest Policy Officers/Board of Directors Budget (4 year prior or 3 years future) IRS Form 1023 - Tax Exempt Application – required for §501(c)(3) status
  • 23. Handout: 7 Tips for Starting a Nonprofit Choosing structure for your corporation Will you have members? How will you fund your mission? › Grants, Donations, Fund Raising Activities Who will lead the organization? › Board of Directors (required) › Executive Director
  • 24. It’s all in the appearances – Typical Corporate Structure Board of Directors Officers – › › › › President Vice President Secretary Treasurer Functional (examples)      Executive Budget Finance Fund Raising Projects Committees
  • 25. Handout: Sample Bylaws with Members Bylaws  Policies  Minutes  › Resolutions › Record of Voting  Other Important Documents › Financial Reports › Contracts
  • 26. Incorporation IRS Fees: $30 to IN Sec. of State Tax Exempt Application User Fee: › $400 for average annual income < $10,000 › $850 for average annual income > $10,000 Attorneys’ fees: Variable, depending upon time involved and complexity of your situation. Expect to pay $1,000 - $3,000.
  • 27. Wait for 12 -18 months to hear from IRS  May need to provide more information   “Final Determination Letter” › Proof of nonprofit/tax exempt status › Very important document – DO NOT LOSE THIS!
  • 28. Handout: Sample IN NP-20 Annual Tax Returns › Indiana NP-20 every year › IRS 990 every year If annual income > $50,000 › IRS 990N every year if annual income < $50,000 Act like a corporation › Meetings, minutes, board of directors › Financial reports, Government reports › Regular professional review of financial records
  • 29. For Nonprofits Earning < $50,000 per year
  • 30. Pitfalls for NonProfits – word to the wise UBIT – Unrelated Business Income Tax Property Tax – You are (mostly) exempt BUT you have to file the proper forms with County Gaming – Yes, you can play BINGO – BUT Indiana has complicated gaming laws! Filing Requirements – keep all state and federal forms current!
  • 31. Handout: IN Sales Tax Bulletin #10 Handout: ST 105 Sales Tax Exemption Form  Indiana allows exemption collecting sales tax for sale of goods under certain conditions: › Sales of products by nonprofit for fundraising purposes do not require collection of sales tax IF –  Not more than 30 days in a calendar year  Sale of “mission purpose” items  Educational materials, religious materials, etc.
  • 32. Handout: IN Sales Tax Bulletin #10 Handout: ST 105 Sales Tax Exemption Form  Indiana allows exemption paying sales tax under certain conditions: › Purchases for “mission activities” are exempt from sales tax › Purchases for “non mission” uses are not exempt › Purchases of hotel rooms for conferences are not exempt (mostly)
  • 33. Weigh the costs and benefits  Talk to an attorney  Talk to your organization – what do your members want? 
  • 34. Smart Stops on the Web Handout: Top 10 Internet Links for Nonprofits
  • 35. Thank you for your kind attention