What information will be required on Form 1023?
In order for the IRS to make a determination, specific questions must be answered relative to the organizations legal structure, its governing board and potential conflicts of interest. More importantly, pages of detailed questions concerning the organizations activities must be answered. This is in addition to a two-year budget (new organizations) or three years of financial history (existing organizations) and a written narrative essay outlining the organizations programs, both current and planned, that will advance the organizations exempt purpose. Add to that copies of supporting schedules and documentation and you have a basic application package.
A. In order for the IRS to make a determination, specific questions must be answered relative to the organization’s legal structure, its governing board and potential conflicts of interest. More importantly, pages of detailed questions concerning the organization’s activities must be answered. This is in addition to a two-year budget (new organizations) or three years of financial history (existing organizations) and a written narrative essay outlining the organization’s programs, both current and planned, that will advance the organization’s exempt purpose. Add to that copies of supporting schedules and documentation and you have a basic application package.
In order for the IRS to make a determination, specific questions must be answered relative to the organization’s legal structure, its governing board and potential conflicts of interest. More importantly, pages of detailed questions concerning the organization’s activities must be answered. This is in addition to a two-year budget (new organizations) or three years of financial history (existing organizations) and a written narrative essay outlining the organization’s programs, both current and planned, that will advance the organization’s exempt purpose. Add to that copies of supporting schedules and documentation and you have a basic application package.
In order for the IRS to make a determination, specific questions must be answered relative to the organization’s legal structure, its governing board and potential conflicts of interest. More importantly, pages of detailed questions concerning the organization’s activities must be answered. This is in addition to a two-year budget (new organizations) or three years of financial history (existing organizations) and a written narrative essay outlining the organization’s programs, both current and planned that will advance the organization’s exempt purpose. Add to that copies of supporting schedules and documentation and you have a basic application package.
