How Can I Make A 501(c)(3) Organization?

[FruitRocks15 0]

I've been wanting to make a business with my website for a very long time. I have looked through hundreds and hundreds of pages on Google, but I don't know how to actually create one (they just tell me what they are, and point me to resources that say the exact same thing ). Because I don't have a business yet, can I just make an 501c3 organization instead of having to spend money to form a corporation or limited liable company? Also, can i setup this online? i really don't want to have actually go to some government house or what not.

[karen_white 0]

Yes you can start your business, and you may also visit
http://www.infotaxsquare.com/view_article.php?id=200
for getting better knowledge

thanks

[k_nitin_r 8]

Hi!Before we go into the details of what is a 501c3 organization, let us first define what the term means for the rest of the forum readers to be able to contribute to the discussion.An organization is something intangible. We interact with the people who work for organizations such as WalMart and British Airways, and we see things that are owned by organizations such as, for example, the hypermarkets owned by WalMart and the jumbo jets owned by British Airways, but we never really see an organization. An organization is simply a group or individuals and certain resources that are used in combination to work toward the goal of creating value and engage in a mutually beneficial exchange. Organizations are often formed to fill a need that exists and may not be adequately satisfied by existing organizations. Organizations are started by investors and entrepreneurs. Investors see organizations as a means to increase their funds over a period of time. Entrepreneurs attempt to identify the gaps in the current market in order to engage in exchanges. Organizations such as Amazon have been able to make books more easily accessible to consumers by reducing costs and increasing accessibility to books due to needs identified by entrepreneurs such as Jeffrey Bezos (Amazon ships books internationally too!).A 501c3 organization is a specific form of organization that is exempted from tax by the U.S. government and engages its efforts in religious, knowledge-related, or charitable causes. Some of the characteristics defined above hold true for most organizations, but do not apply to charitable organizations. Investors who contribute to charitable organizations do not seek to increase their funds but instead intend to contribute to society and to help in forming a self-sustaining organizations that would not require continual input of finances. Entreprenuers have to create business plans that can attract investors, and also need the business plan to register the organization and acquire a license. Licenses obtained by an organization enable it to engage in certain types of exchanges of value. Charitable organizations do not necessarily have exchanges, but they could raise funds for charity by providing services or products in return. A business plan should not only mention the activities that the organization would be engaging in, but also how it plans to perform those activities. A statement of finances has to be created to indicate the consumpting of funds, acquisition of new funds, and the sustainability of the firm through its efforts to balance the consumption and acquisition of finances. The profits generated by a firm can either be released to shareholders as dividends or can be re-invested into the business in improving its activities or in expanding its business. A 501c3 organization may not be able to issue dividends due to the fact that it does not seek to generate profit and therefore returning finances to share holders would be against the organization's charter. If you have all of these aspects thought out and can present a business plan and projected financial statements, you are half-way there and need to be able to produce certain additional documents, as required by the local body issuing trade licenses and registering organizations, to indicate your capabilities in running the organization.

[BuffaloHelp 24]

The best way to start your company, separating your money from the company's money (sole purpose of federal and state taxation) is start with D.B.A. (doing business as).It allows you to create a separate entity apart for you and removed any personal liability from getting sued or etc aside from having your company name, paid to your company name, write checks in your company's name etc.DBA is cheap to create and it is the most commonly created business entity. As low as $35 you can simply go to your town or city hall and register your business name (as long as it's not taken). Simply bring a proof of ID, proper tax ID or EIN and the correct form of payment (my city hall only accepts cash).EIN (employee identification number) is free from IRS. You can tie your personal social security number to your DBA but some people are not comfortable with writing and showing their social security number to some public officials. So you can create EIN using your social security number. EIN will be issued to you and only IRS knows the tie between two numbers. Submit your EIN when registering DBA can be reassuring your social security number does not fall into the wrong hands. EIN takes few hours/days to create (registering with IRS on line and possibly waiting to hear back from them, although I seem to remember getting mine almost immediately). So get your EIN before registering DBA.Once you've created your DBA, bring the certified DBA paper(s) to your preferred bank and create a bank account for your company. Voila, congratulations you have now created a company that can accept payments in your company's name.