willing/able to pay?
Once you figure out how much you might be able to raise, you decide what your priorities are in spending it. A third approach is available, since you have been in existence several months. If you feel that any of these months are representative of how the organization will operate in the future, take that month and multiply by twelve for a year, maybe adding 5 to 10 percent for future years. KEEP IN MIND that the fee the IRS will charge you is based on your projected budget. If you project an income of more than $10,000 per year, the IRS will charge you $500 instead of $150. Putnam Barber offered some background on how to interpret the significance of this part of the application for tax exempt status: I’ve never seen this said out loud, so I’m a little diffident about saying it here, but I’ve always assumed that the budget projections requested in the 1023 are related to the obscure fascination the IRS has with the distinctions between “private” foundations and “public” charities and
