Yes, we just filed our 501c3 application!!! One Million Acts of Kindness is officially on its way to the big leagues. In a few short months we should get a determination letter and then it’s merely keeping up with our taxes and maintaining our exempt purpose. It’s that easy!
Does this mean we’re a 501c3?
Not yet. Once our application is received, our determination date becomes the date of filing (or often the date of receipt). That means donations made after they receive it will be considered donations to a 501c3.
Was the process hard?
No. Applying for 501c3 recognition is actually pretty easy if you get all your ducks in a row first. Since I’ve now gone through the process at least 40 times, I’m very familiar with the questions they ask and what additional information they want.
How long until you get recognition?
Minimum of 3 months, in my recent experience. It all depends on the workload they have right now, how complicated your application is, and the agent you’re assigned to.
Can you be denied 501c3?
Theoretically, yes. However, I’ve never had an application denied. More likely than not, they’re going to ask for supplemental information. If you provide that, your application stays open until you get a final determination. Since we’re not doing anything out of the ordinary or complicated, this should be smooth sailing.
Next, we need to start fundraising!
Where can I donate?
Need help with your own nonprofit, check out the free NC Business Guide to Forming a Nonprofit.