Google the term “How to start a nonprofit” or “How to get tax-exempt 501(c)3 status” and you’ll see many results with people expressing confusion, frustration and even anger over IRS approval delays which at their height not long ago, ran 18 months on average.
The IRS responded by creating a faster, more streamlined path for smaller organizations (organizations with projected revenues below $50,000 per year in the first three tax years), which decreased the complexity and delay of the IRS 1023 application process.
The problem? There are still a number of steps which must be performed properly in preparing to apply for Tax-Exempt status. Watch the video below to learn the details.
IRS Form 1023 is 29 pages long, plus additional required schedules and attachments. While not all organizations have to complete every page, a typical application package is between 50-100 pages of material.
Make a mistake in any of this and your application will be delayed or denied when it reaches the IRS Exempt Organizations department.
More important, however, is the amount of time required to complete the package. The IRS estimates a preparation time of well over 100 hours for a novice to prepare Form 1023.
For these reasons, and many others, thousands of nonprofit founders choose to get assistance with the entire 501(c)3 process from the beginning, and focus instead on their world-changing mission.
Yippiekiyay’s 501(c)3 approval time, from “idea to IRS approval” ranges from less than 30 days (for lower-budget organizations whose applications go through without additional IRS interaction) to around 3-4 months (for higher budget organizations with more complex files).
Faster approvals help organizations stay on track, keep board members and donors energized, and maintain the critical momentum needed to push programs and your mission forward.
Cheers to you and your mission,
Jacqui Long | Yippiekiyay