This directory handles the final stretch of your Form 1023 application. It explains how to determine your foundation classification, select the effective date, and meet the annual filing requirements. These are the details the IRS uses to label your organization, get them wrong, and you'll live with the consequences for years.
Form 1023 Part VII: Classification
IRS Form 1023 Part VII (7) Foundation Classification - This section deals with what constitute a Private Foundation and Public Charity status.
Form 1023 Part VIII: Effective Date
You have 27 months to apply for tax exemption as IRS won't backdate the exemption. The date of the exemption will be the approval date of the 501c3 status.
Form 1023 Part IX: Annual 990 Filing
Certain organizations are not required to file annual information returns or notices (Form 990, Form 990-EZ, or Form 990-N, e-Postcard) but most do.
Form 1023 Part X: Final Attachment
There is no need to electronically sign the form 1023, but all the same, you are declaring under the penalties of perjury that you are authorized to do so.
