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View Poll Results: How long did it take to apply and receive 501(c)(3)
0-3 Months 0 0%
3-6 Months 0 0%
6-9 Months 2 50.00%
9-12 Months 1 25.00%
Longer than a year. 1 25.00%
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  #1  
Old 11-24-2014, 03:31 PM
1978 1978 is offline
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501(c)(3) Status - How Long

How long did it take your club or disc golf organization (or any organization) to achieve 501(c)(3) status. Any pitfalls or lessons learned that will help make others applications go smoother?


I already know not to put freedom or liberty in the name :-P
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  #2  
Old 11-24-2014, 07:33 PM
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filobedo filobedo is offline
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Hopefully you are an attorney or have accessibility to any attorney, someone that is good with tax provisions and filings and insurance for the club and each BOD member if you plan on becoming a 501(c)(3) due to liabilities. I am curious how many other clubs have this status and if any clubs/BOD members have been sued that are associated with a 501(c)(3) or have had fraud or tax problems due to lack of controls and people running the club with no business background

The link below has some concise information you may want to take a look at,

http://www.501c3.org/blog/dont-avoid...fits-problems/

Last edited by filobedo; 11-24-2014 at 07:37 PM.
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  #3  
Old 11-24-2014, 09:13 PM
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bikinjack bikinjack is offline
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From having gone through it once, I'll say that while it's fairly important to have an attorney helping, it's way more important to enlist the services of an accountant. You'll need extensive records on your financials, as well as names and contact info for anyone who's ever served as an officer or on the board of directors. Once I got all that info together, and handed it over to the attorney and accountant, it took somewhere between six months and a year to get the status.

FWIW, we had "Friends" in our name.
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Old 11-24-2014, 09:31 PM
mattw mattw is offline
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The IRS has an new EZ online application that a lot of different groups qualify for. I have not had a chance to go through this yet. I brought it up at work and was told to read the attached link.

http://www.irs.gov/uac/Newsroom/New-...rities-Qualify
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Old 11-25-2014, 01:15 PM
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Originally Posted by mattw View Post
The IRS has an new EZ online application that a lot of different groups qualify for. I have not had a chance to go through this yet. I brought it up at work and was told to read the attached link.

http://www.irs.gov/uac/Newsroom/New-...rities-Qualify
I recommend to anyone using the EZ Form to check the IRS website routinely to ensure nothing changes over the course of the initial paperwork.
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Old 11-25-2014, 01:22 PM
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I am elbow deep in 501c3 application process right now and it's fairly overwelming. We chose to utilize LegalZoom to help with the process and i'd recommend it. For sure, do not try to turn your old existing club into the 501c3 association. Fill out all the paperwork as if your old club never existed and rename the club. Remember, as a 50c3 (three) you're not forming to play disc golf, you're forming to further the education of disc golf to the public.

Before doing anything legal wise, draft your charter and bylaws now and find two other people to have a president, secretary, and treasurer.
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Old 11-25-2014, 01:33 PM
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Originally Posted by jrawk View Post
Before doing anything legal wise, draft your charter and bylaws now and find two other people to have a president, secretary, and treasurer.
WOW! Hopefully you have a Charter and bylaws but they may need to be amended. If this is an issue, take several steps backwards and setup a timeline to get the most basic information completed before thinking about moving forward.
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Old 11-25-2014, 01:36 PM
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Originally Posted by filobedo View Post
WOW! Hopefully you have a Charter and bylaws but they may need to be amended. If this is an issue, take several steps backwards and setup a timeline to get the most basic information completed before thinking about moving forward.
absolutely. We are/were ready, but worth repeating.
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  #9  
Old 11-25-2014, 04:00 PM
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MacDaddy MacDaddy is offline
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I didn't see why you wanted to be a 501-c-3.... maybe you don't need to be. Perhaps being some other form, like perhaps a 501-c-7 would be enough of a structure for your purposes. The accounting and paperwork is a lot simpler if you are not a "c-3".
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  #10  
Old Yesterday, 05:57 PM
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Originally Posted by MacDaddy View Post
I didn't see why you wanted to be a 501-c-3.... maybe you don't need to be. Perhaps being some other form, like perhaps a 501-c-7 would be enough of a structure for your purposes. The accounting and paperwork is a lot simpler if you are not a "c-3".
Is a 501(c)(7) a private club with members/partners/stock holders that is by invite only similar to exclusive golf, tennis and social clubs? I thought this is how Augusta National was set up but could be incorrect.
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