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yawnbox committed Sep 5, 2024
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<p>Apply for a business bank account with a local nonprofit credit union and obtain debit cards.</p>
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<p>Apply to the IRS for 501(c)(3) status using the <a rel="noopener nofollow noreferrer" target="_blank" href="https://www.irs.gov/forms-pubs/about-form-1023-ez">1023-EZ</a>. See <a rel="noopener nofollow noreferrer" target="_blank" href="https://github.com/emeraldonion/emeraldonion.github.io/blob/master/files/EO_IRS_1023EZ.pdf">our 2017 1023-EZ</a>.</p>
<p>2024 note: The 1023-EZ route is prudent for small nonprofits. As long as you plan on making less than $50,000 a year, which we have done every single year, this is the quickest and easiest path to 501(c)(3) public charity status. A lawyer is not needed! From then on, every year, the only tax filing that is required at the IRS level is the <a rel="noopener nofollow noreferrer" target="_blank" href="https://www.irs.gov/charities-non-profits/annual-electronic-notice-form-990-n-for-small-organizations-faqs-how-to-file">990-N postcard</a>, simply attesting to the fact that Emerald Onion has not made more than $50,000 in the taxable year. It's very manageable for small volunteer group.</p>
<p>Apply to the IRS for 501(c)(3) status using the <a rel="noopener nofollow noreferrer" target="_blank" href="https://www.irs.gov/forms-pubs/about-form-1023-ez">1023-EZ</a>.</p>
<p>2024 note: See <a rel="noopener nofollow noreferrer" target="_blank" href="https://github.com/emeraldonion/emeraldonion.github.io/blob/master/files/EO_IRS_1023EZ.pdf">our 2017 1023-EZ</a>. The 1023-EZ route is prudent for small nonprofits. As long as you plan on making less than $50,000 a year, which we have done every single year, this is the quickest and easiest path to 501(c)(3) public charity status. A lawyer is not needed! From then on, every year, the only tax filing that is required at the IRS level is the <a rel="noopener nofollow noreferrer" target="_blank" href="https://www.irs.gov/charities-non-profits/annual-electronic-notice-form-990-n-for-small-organizations-faqs-how-to-file">990-N postcard</a>, simply attesting to the fact that Emerald Onion has not made more than $50,000 in the taxable year. It's very manageable for small volunteer group.</p>
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<h2 id="establishing">Establishing<a class="zola-anchor" href="#establishing" aria-label="Anchor link for: establishing">#</a></h2>
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