F. Paul Maloof, Esquire
A partner with Redmon, Peyton & Braswell LLP
501(c)(3) Organizations and other nonprofits
Good for you! You recognized a need in your community - perhaps at a school, an environmental issue, or a religious community. You organized people around the cause, created an organization, and you're ready to raise money to solve a problem. You're one of a thousand points of light, a local hero.
But even though you have established an organization that is non-profit and working toward a good cause, your donors will not be able to write their gifts off against their taxes. Not all nonprofit corporations are tax exempt. To keep your non-profit organization, your volunteers, and your donors legal, you need to ensure all the laws regarding non-profits are followed.
To be approved for tax exempt status, an application must be filed with the Internal Revenue Service together with a $500 filing fee. The application is a very precise document, requires detailed preparation and can be confusing to the untrained eye. Generally, it takes 120 days for the applications to be reviewed. Sometimes, the IRS will have additional questions because the documents that accompanied the application were insufficient for one reason or another.
F. Paul Maloof and his colleagues at Redmon, Peyton & Braswell LLP are experienced in preparing and successfully attaining tax exempt status in the context of a 501(c)(3) status for nonprofit corporations, both domestically and internationally. They also work with CPAs whose mainstay of their practice is rendering accounting and tax advice to nonprofit and tax exempt corporations. Please fill in the form below to contact us, or call us at (703) 684-2000.
F. Paul Maloof
510 King St., Suite 301
Alexandria, VA
22314-3132
Tel: 703-684-2000 Ext. 54