discuss: LDP can't get non-profit status without incorporating
Subject:
Re: [discuss] LDP can't get non-profit status without incorporating
From:
Rick Moen ####@####.####
Date:
3 May 2007 20:33:58 -0000
Message-Id: <20070503203353.GK14422@linuxmafia.com>
Quoting David Lawyer ####@####.####
> Sorry that this message is 2 weeks old, but it's one that got lost.
Not a problem.
> The $25,000 exemption is for 501(c)3 organizations. It's only $5,000
> if you are not 501(c)3 but would be eligible to become 501(c)3. At
> least this was my take on it and I don't have the citations.
That's not correct. Here's a FAQ on the subject by the GuideStar
people, who are a useful information resource for non-profits:
http://www.guidestar.org/news/features/990_myths.jsp
> An interesting question is what a non-501(c)3 unincorporated
> organization is supposed to do if they have over $5000 gross income?
File a form 990 return, and pay income tax if any is owed.
