Matthew 5:15 says, "No one lights a lamp and then puts it under a basket; instead, a lamp is placed on a stand where it gives light to everyone in the house." Hi, my name is Dan Peterson, founder of Helping Hand Outreach. In this video, I want to briefly share with you the value of forming your religious organization as a church, some examples of IRS-approved churches, and the best way to form a church. Why do you want church status for your ministry? The value of being a church, compared to any other nonprofit, is greater rights and fewer restrictions. First, churches don't file income tax returns, while all other nonprofits do. Second, churches don't have to provide records of receipts and disbursements, nor do they have to provide testimony under oath of such statements like all other nonprofits do. Third, churches have special audit protections, whereas all other nonprofits do not. In case you were wondering if your organization can qualify, here are some examples of IRS-approved churches and church ministries: 1. The Salvation Army: Classified as a church and association of churches since 1958. Their primary income comes from thrift sales and donations. 2. Young Life: A non-denominational church that focuses on youth and meets at recreation areas. 3. The Billy Graham Evangelistic Association: One of the largest evangelism ministries in America. Approved for Association of Church status in 2016 after 66 years of operation as a non-profit. They were audited by the IRS and subsequently changed their organization to church status. 4. Focus on the Family: A ministry that provides advice and counseling on marriage, parenting, and other topics through radio, books, and social media. 5. The law firm Liberty Counsel: An integrated auxiliary of Thomas Road Baptist Church. And here are two examples that may surprise you: 1. Our Lady of Perpetual...
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501c3 election Form: What You Should Know
Be sure all signatures are completed. • You are responsible for completing all the signatures. No filing fees apply. • It's Easy You can use Form 5768 to make the contribution without having to use a financial institution to accept contributions. • We will notify you if you need to make a payment. • No fees will apply for the first 25,000. • You can use Form 5768 to make the contribution without having to use a financial institution to accept contributions. • We will notify you if you need to make a payment. • No fees will apply for the first 25,000. • You can change your name without prior notice and without paying any filing fees. • It's Free Your name can remain the same. • No fees apply. • You can change your name without prior notice and without paying any filing fees. • You are protected from lawsuits. • You may have to pay registration fees for filing. • You may have to pay registration fees for filing. • This process allows you to make any contribution you want to the qualified organization. • This process allows you to make any contribution you want to the qualified organization. • This application can be used by any qualified organization. If you are an organization seeking to register with the Internal Revenue Service as a qualified organization, contact us to ensure we handle your application as quickly as possible. Our office is currently busy with new applications being submitted for nonprofit status. While each application is reviewed, we will follow the “time-to-qualification” rules to expedite the process for each client. The tax year after a successful election is often the year the organization begins to operate as a charitable organization. Your organization needs to file IRS Form 890 with their state. This is a quarterly report filed by each organization that makes a contribution. It is used to determine if contributions are taxable. See our section on Schedule B with Form 890 for more details. Tax Year 2024 Tax Year 2024 is the first tax year after all donations to the qualified organization have been made. You should know that any contribution made after the first quarter of the tax year will not be recognized as taxable. If you received any contribution(s) in tax year 2018, and it is not designated on Schedule B (Form 890 or Form 1120S), Please call our office to speak with us about how to recognize the contribution.
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Video instructions and help with filling out and completing 501c3 election form
