Non Profit Status: Update

by on Feb.04, 2010, under News

Non Profit Filing DocumentWoot!  The paperwork has officially come back.  We are now an official non profit organization within the State of Tennessee.  Keep in mind this is only within the Tennessee.  We have not yet filed for 501(c)3 status.

That being said.  Our next steps will be to file with the IRS for a tax ID so that we can make tax free purchases.  Once we have all of that in place, and if the group is continuing to grow and do well, we’ll look into the becoming a national non profit.  From what I’ve been told that costs somewhere around $750.  So that will likely want to wait until we are a little more established.  If anyone knows of any good tax advice for such things, or anything else financially related to non profits, feel free to comment on it.

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Random Quote

A fact is a simple statement that everyone believes. It is innocent, unless found guilty. A hypothesis is a novel suggestion that no one wants to believe. It is guilty, until found effective. — Edward Teller