Creating a 501(c)(3) organization: Exciting? No. Beneficial? Yes. Worth the time and energy? Absolutely. This interactive discussion leads participants through the benefits, challenges and how-to’s of establishing a 501(c)(3) organization.

1. The Benefits and Challenges of Creating
Your Own 501(c)(3) Organization
Jim Nicholson
Senior Director – Investments
Oppenheimer & Co. Inc.
Joanne Patrick
Academy Coordinator
Seattle Public Schools
Wednesday, July 17, 2012

2. #NAFNext

3. 501(c)(3)
Worth the time
Exciting? Beneficial?
and energy?

4. Why a 501(c)3?
1. Fundraising simplicity
2. Eligible to apply for private foundation grants
3. Control of Funds
4. Asset segregation from School District Funds
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5. 5. Recognition and legitimacy of Organization
6. Exemption from Federal Income Tax
7. Tax Deductible Charitable Contributions
8. Eligible to use 3rd class postage rate for Bulk
mailings
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6. Challenges
1. Have law firm complete application process
2. Anticipate 6-12 months to complete
3. Use IRS Publication 4220 for Guidelines
4. Academy entity
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7. 5. Create or update Academy By-Laws to
include Articles of Dissolution
6. Apply for Articles of Incorporation with state
7. Apply for Business License
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8. 501(c)3 check list
 Complete application process
 Submit Fee
 Receive Tax ID number from IRS
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9. Brainstorm
 Who do you know who can help you with this
process?
 Resources:
http://naf.org/staff-board-bios
http://naf.org/become-naf-partner
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10. Yearly requirements
 Hold Annual Meeting
 Keep detailed records
 File Annual Report – Form 990
 Disclosure Requirements
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11. Suggestions
 Use CPA specializing in Non-Profit tax laws
 Set up tax year to match school year
– September 1 – August 30
 Develop Procurement Form
 Use it!
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12. S eat t l e Ac ademies F o un dat io n
D o n at io n Pr o c ur emen t F o r m
THANK YOU for donating to our Fundraiser. Proceeds benefit a variety of enrichment
programs for our Academy of Finance, Hospitality & Tourism, and Information Technology
students. Please provide us with the information requested below.
DONOR INFORMATION
Mr./Ms. First Name: ___________________ Last Name: _____________________________
Donor Name: ________________________ Business Phone:__________________________
Street: ______________________________ Email: _________________________________
City: _______________________________ State: ______ Zip: _______________________
GIFT INFORMATION
 Gift Item Name: ___________________________________________________________
Fair Market Value:$____________
 I would like to contribute cash. Amt.$____________
Item Description/Other: ________________________________________________________
* Recommended expiration of December 30, 2013 will be applied unless otherwise instructed. Please include
brochures/menus/ business cards for display if appropriate
Date item will be delivered:_____________ Item pick up date:_____________
Other (please specify): _________________________________________________________
Seattle Academies Foundation Tax ID # 20-1954948
501( c ) (3) Non-Profit Organization
PLEASE SEND DONATION ITEMS TO:
Mrs. Joanne Patrick, Academy Coordinator
Seattle Academies Foundation
7510-29th Northwest
Seattle, WA 98117-4615
(206) 252-0745 w (206)252-0731 f
email: cjpatrick@seattleschools.org

13. Benefits
 Accountability
 Combined Academies
 Grant Applications
 Pressure off Director
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14. Follow up
 What are your next steps?
 Who do we do this for?
Focus statement: Our students are worthy of our Investment!
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15. Thank you!
Contact information
Jim Nicholson
James.nicholson@opco.com
425-709-0462
Joanne Patrick
cjpatrick@seattleschools.org
206-252-0745
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