Looking to setup a nonprofit? Let’s take a look at form 1023 and the accounting needed for your startup. Business & Financial Solutions is experienced in processing form 1023. This is the application for 501(c)3 non-profit status with the IRS. We are knowledgeable in preparing the application. And we may be able to expedite the process too.
BFS offers provisions that are often overlooked in the Articles of Incorporation of the organization. There are other oversights that may slow the processing of the application, too. The oversights may create problems during start-ups if not handled at the onset.
501c3 start-ups should give special consideration to its purpose. Board members should be chosen to meet the considerations of the organization’s mission. Bylaws, conflicts of interests and conflicts in hiring should be considered. And there are many other factors that must be considered at the beginning of start-ups. Additionally, the IRS will require resolutions to address several concerns.
Applicants for 501c3 status should not avoid larger application fees simply to save on the expense. Problems may be faced later where grant applications or proposals are made. Foundations review the non-profit’s form 1023 too. They also want to see if they meet the terms of grants for which they provide. Foundations fund nonprofits. They check to see if requested grants amounts exceed the amounts forecasted amounts in the form 1023.
We have mentioned just a few of the potential problems. And all may affect the processing of form 1023 with IRS. And there could be more. Applicants should seek professional help when preparing this form. Please contact our firm and schedule a consultation before moving forward. We may be able to help you avoid costly and timely mistakes in the application. Avoid issues that may make the grant writing process difficult too.
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Call Business & Financial Solutions at (855) 557-2222 or e-mail us at email@example.com. Let us help you setup your 501 (c) 3 organization. We can help with all your other business, accounting and tax needs too.
Looking to Setup a Nonprofit?
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