Members RSBro Posted February 24, 2009 Members Share Posted February 24, 2009 The consultant I talked with said that a lot of things are new--at both the state and Federal levels. One benefit of 501c3 status is an organization is exempt from sales tax. So, I guess there's gonna be a lot of hoops to jump through in order to buy a big screen television, avoid the sales tax, and there's a likelihood that it's actually going to the office of a legit organization. But this is still weird ... and I never expected this project to get this big. Yessir. There's plenty of folks out there that actually use these organizations properly and do a LOT for the community (I personally handle our county's largest independent 501©(3)), and there's just so much run-around and hoop-jumping as you mentioned it'd drive me crazy. It does just doing their work! Link to comment Share on other sites More sharing options...
Members Brother Mango Posted February 24, 2009 Author Members Share Posted February 24, 2009 In the face off all of this -- the possibility of having to spend $750 on a 501c3 application, and everything else -- it does not suck to be me. The support, inspiration, compliments and input of this community have been awesome. Link to comment Share on other sites More sharing options...
Members Brother Mango Posted February 25, 2009 Author Members Share Posted February 25, 2009 Ok. I called the IRS and it was a long call. This was complicated. Here Link to comment Share on other sites More sharing options...
Members RSBro Posted February 25, 2009 Members Share Posted February 25, 2009 Now you're getting it! Call the IRS again today. You won't get half of the same answers! Link to comment Share on other sites More sharing options...
Members Brother Mango Posted February 25, 2009 Author Members Share Posted February 25, 2009 Now you're getting it! Call the IRS again today. You won't get half of the same answers! Awwwwww DAMN!! Link to comment Share on other sites More sharing options...
Members RSBro Posted February 25, 2009 Members Share Posted February 25, 2009 Awwwwww DAMN!! Dems de breaks! In all seriousness, you're pretty much on the right track, and what they told you is right for the most part. You have no tax implication and don't have to report it or it's not included as "income" to you, if/until you tried to do something with it. And the only way that would even happen is if you got picked for audit and they just happened to ask "Hey! Do you happen to have like $2G worth of donated bras lying around? I'm just sayin..." It's a whole matching process that would have to get looked at for it to ever be an issue, much like dealing with being paid in and using cash for expenses. And a company is hesitant to donate to "you", because you're not "authorized" as a charity yet, but I can tell you that in over 220+ IRS audits in my career, the "status" (like a 501c3) of a charity has never been questioned. People give the IRS way too much credit for knowing their own rules on stuff like this and that's why people usually aren't aggressive on that type of deal. Of course if you're a big corp and doing donations in the millions yeah, but the chances of them donating that much to you are slim to none, and it's easily justifiable... they just need better tax people- kinda like me! :thu: Link to comment Share on other sites More sharing options...
Members Brother Mango Posted June 8, 2009 Author Members Share Posted June 8, 2009 I'm going for it! After lots of thinking and talking with people, I'm pursuing my own 501c3 status for Support1000. 1. The need for a decent bra is vast. I found several 1-time projects that collected and donated bras but I haven't found anything on-going. 2. The inspiration that this has spawned has been as exciting as delivering bras to those who need them. Lemme tell ya': I'm one guy who had an idea last November.We all hear that we should follow our hearts; or, that we can make a difference in the world. Over the past few weeks I began to hear that and feel it in my bones. People have helped, expressed support, and have made various contributions. It's happening and sometimes feels like it's happening against my will. Please, be inspired. If you've got a dream, let people know, be ok with being called crazy, build a team. The right people will show up. Whether you want to lead a band or clean up the Pacific Ocean ... be that 1 person who has an idea, creating an unknown, frightening future to live into. Link to comment Share on other sites More sharing options...
Members J the D Posted June 8, 2009 Members Share Posted June 8, 2009 Well done, Mango. I've got some time and can help with the Form 1023 application. PM me with a phone # and we'll talk. Link to comment Share on other sites More sharing options...
Members Brother Mango Posted June 8, 2009 Author Members Share Posted June 8, 2009 Well done, Mango. I've got some time and can help with the Form 1023 application. PM me with a phone # and we'll talk. Wow! Thanks much! I'll PM you. Link to comment Share on other sites More sharing options...
Members Brother Mango Posted March 9, 2010 Author Members Share Posted March 9, 2010 UPDATE:The 501©3 process is DONE!!! The letter arrived from the IRS yesterday.Support1000 NFP is a recognized, legit, bona fide, true blue, tax exempt non-profit organization. WOW! Thanks KindnessThanks J the DThanks HCBF Forumites for being so cool and supportive Link to comment Share on other sites More sharing options...
Members Svi Posted March 9, 2010 Members Share Posted March 9, 2010 BTW: To date, we've donated 507 bras, we've promised between 500 and 750, and requests keep coming in. Very quickly, 2700 didn't feel so infinite.I never expected to hear from an organization that serves blind and visually-impaired women. They contacted me and we gladly donated 33 bras to them this morning. I've got many more for you. If you'd like, I'd be more than happy to ask the area mom's and women around here if they'd like to donate as well. Link to comment Share on other sites More sharing options...
Members BottomHeavyKate Posted March 9, 2010 Members Share Posted March 9, 2010 is a recognized, legit, bona fide, true blue, tax exempt non-profit organization. WOW! Thanks Kindness Thanks J the D Thanks HCBF Forumites for being so cool and supportive Nice! Link to comment Share on other sites More sharing options...
Moderators Kindness Posted March 9, 2010 Moderators Share Posted March 9, 2010 You're welcome! Link to comment Share on other sites More sharing options...
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