What are the federal tax requirements to form a charity to help disaster victims?
A new charitable organization with anticipated annual gross receipts over $5,000 must apply for tax-exempt status from the IRS. (There are exceptions to this general rule - churches, synagogues, temples, and mosques may, but are not required to, apply for recognition of tax-exempt status). Publication 3833 discusses establishing a new charitable organization to provide disaster relief. For information about the creating an organization that will qualify for tax-exempt status under Internal Revenue Code section 501(c)(3), see also Starting Out,.
An organization must use Form 1023, Application for Recognition of Exemption, to apply for recognition of exemption. Applying to the IRS provides more information on the application process.
Last update: October 28, 2005
|