2020 Nonprofit Offer FAQs
Q: How much are the tax- exemption services?
A: Tax-exemption services are normally $500 (EZ) for aspiring tax-exempt nonprofits that expect to have revenue less than $40,000 over the course of 4 years and $750 (FULL) for those with revenue of over that amount. With 40% off of services, it is $300 for the EZ form and $450 for the FULL form.
Q: Are there any additional fees?
A: There are additional fees for your articles of incorporation filing and are paid to the State and your legal organ. Fees vary by State. The Internal Revenue Service (IRS) charges a fee of $275 for the EZ form and $600 for the FULL form. When you make your book your first consultation, you will pay for the service fee and the IRS fee only. We will have our consultation and then invoice you for all additional fees for the incorporations services for your State. You will be charged an additional postage fee to mail the application and a processing fee of $30 for travel and printing for FULL applications. EZ applications are not charged postage or processing fees.
Q: How long does it take?
A: Incorporation services usually can take a couple of days to weeks. For tax-exemption services, the turn-around time to prepare applications is usually two weeks from the date for which the requested information from the client is received. Once submitted to the IRS, it could take up to 220 days. We have seen approved letter of exemptions in as little as two weeks after submission. The time varies with each application.
Q: Why do I need tax-exemption for my nonprofit?
A: When your donors decide to give to your cause, typically, they will request an acknowledgment of the gift or a tax receipt that they can provide to their tax preparer to receive tax benefits. In addition, it is a requirement for foundations and other entities that give to public charities to give only to tax-exempt organizations. If you don't have tax-exemption, you have limited access to a diversified portfolio of donors, thereby limiting your possible income for your nonprofit.
Q: What is included in the price?
A: With the preparation fee, you receive management consulting in reference to your application and vision for your organization, preparation of the forms required, submission of the forms to the IRS electronically or by mail, and a final consultation that prepares you for your next steps for your nonprofit after your application is submitted.
Q: What is the process like?
A: The very simple and streamlined process will be explained during your first consultation.