This is a taste of the 501c3 federal government
recognition process
In order to even step into the Non Profit World you Must first
know How to make money.
The first money you will need to find is the Federal Governments
Payroll.
In Order to receive 501c3 Non Profit Organization Status, you
must first have money to give.
Here is some correspondence between my Accountant and I.
$56,160 a year with 3 positions created, each earning roughly
7 to 8 dollars an hour.
Other then that I am not sure about any other costs besides
accountant, bank, state/federal, and marketing fees. Of coarse
a building for the organization and other costs that will create.
----- Original Message -----
From: Carl Kvanvig
To: 'Service You'
Sent: Tuesday, March 13, 2007 4:33 PM
Subject: RE: non profit application
I have gone through and filled out the document required information.
Once I have the required supporting information we will need
to sit down and review the document for correctness of information
related to your planned operations. We will need the following
additional information to complete the application
1 An estimated financial budget for the current year and the
next two years.
2 Names and addresses of Board of Directors/Officers
a. Identify any relationship they have or may have to you or
to the nonprofit.
b. Identify any wages to be paid on contracts with any of the
parties.
3 Copy of Articles of incorporation with the state
4 Bylaws or statements defining how the directors/officers
are selected
5 Power of attorney allowing IRS to discuss the application
with me. (IRS form 2848)
6 Financial information for anticipated gaming involvement
7 Description of gaming activity.
8 Anticipated fund raising activities.
The budget will need to reflect the sources of revenue:
Individual donations
Grants
Special fund raising activities
Gaming Revenue
Other
Expenses: Primary Revenue expense categories:
Administrative Recycle Reuse Education
Revenues Generated
Grants
Gaming
Fund Raising
Program Revenue
Other
Expenses:
Wages
Supplies
Travel
Equipment
Other
This should give you something to do for a day or two. Put
some thought into this. After you have identified the board
officers you may want to have a meeting to discuss the financial
projections. If you need I could attend the meeting to guide
some of the questions. Once we have the above information and
I have entered the information we will need to sit down for
an hour or so for me to run several questions by you to make
sure I have the correct answers on the forms.
It would not be a bad idea to establish by-laws although it
is not required. I have access to one that I created that was
approved that could be modified to fit your needs. They don’t
need to be extravagant. They would need to be approved by your
officers/board of directors.
The ball is in your court now, call if you have questions otherwise
will wait to here more prior to continuing with the application.
Shouldn’t take me more than a couple hours to complete
the application once I have all the information.
Carl.
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