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How hard is it to obtain 501(c)3 status?

How hard is it to obtain 501(c)3 status? by @R44D

Answer by Raad Ahmed:

It’s not really clear if your venture would be suitable for a 501 (c) 3 status based on the information you’ve provided here. I understand you want tax-exempt status, but the operation itself must meet minimum qualifications.

Here are the basic requirements of the 501(c) 3:

  • The organization’s earnings cannot be for private benefit
  • The activity of the organization must not attempt to influence legislation
  • The terms of the organization must meet “exempt purposes” which may include:
    • charitable
    • religious
    • educational
    • scientific
    • literary
    • testing for public safety
    • fostering national or international amateur sports competition
    • preventing cruelty to children or animals

As others have mentioned, this classification is not intended for “businesses” but instead non-profit organizations. It would be in your best interest to speak to a non-profit attorney about your best course of action and to ensure that your organization falls under this category.

LawTrades can connect you with a non-profit attorney that will not only offer guidance, but also assistance with planning if you meet the requirements for this status. Our rates are affordable and we offer flexible payment solutions to better serve our clients. Check out our website to learn more.

How hard is it to obtain 501(c)3 status?

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