Why do I need a 501(c)(3)?
Without it you are not an IRS designated organization and cannot collect donations. With it you obtain:

• Exemption from Federal Income Tax
  
• Exemption from FUTA (Federal Unemployment Tax)
  
• Tax deductibility for donors and added credibility for your organization
  
• Eligibility for Government, Foundation and Corporate Grants
  
• Eligibility for Bulk Mailing Permits
  
• Gambling Permits

What are the responsibilities that accompany having a 501(c)(3)?

• Keep accurate and adequate records
  
• Always file your 990 Forms even if you have all zero's
  
• Follow the disclosure laws
  
• Generate public support of your organization
• Do not compensate your close board members or others who are "sitting" at the table with overwhelming amounts of money nor yourself
• Refrain from engaging in political activity and limit your legislative activities
• If a business is not related to your organization, do not try to make it a part to obtain the benefits

What types of organizations are eligible to become a 501(c)(3) non-profit?
Listed below are examples of the types of organizations that would benefit from becoming an IRS recognized 501(c)(3):

• Homeless assistance
• At-risk-youth outreaches
• Home building assistance
• Transitional living
• Assisted living
• Performing arts
• Community atheletics
• HIV/AIDS housing
• Entrepreneurial and leadership training

What is an EIN?
EIN stands for Employee Identification Number. It is also referred to as Federal Employer Identification Number, Tax Identification Number, and Federal Tax Identification Number. An EIN is issued to all corporations established in the US. The EIN is used to track the income and any debts of a company.

What is a DUNS, and how can I get one?
A DUNS is a unique nine-character identification number provided by the commercial company Dun & Bradstreet (D&B). A DUNS number is now a requirement for any business that receives Federal assistance. The process to obtain a DUNS number takes about 10 minutes and is free of charge.

To begin the process of obtaining a DUNS number call Dun & Bradstreet at 1-866-705-5711. More information about the DUNS number can be found in the DUNS Number Guide.