Starting a Nonprofit 501(c)(3) in Ohio: Cost and Requirements

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How much is a 501c3 in Ohio?
To be legally organized, a nonprofit corporation must file Initial Articles of Incorporation (Articles) (Form 532B) with the Ohio Secretary of State’s office. The filing fee is $99.00.
Read more on www.ohiosos.gov

A 501(c)(3) organization is a kind of nonprofit that the Internal Revenue Service (IRS) has approved as tax-exempt. As a result, the charity is exempt from paying federal income taxes and is eligible to accept tax-deductible contributions. Before commencing the process of forming a 501(c)(3) in Ohio, it’s crucial to be aware of the necessary stages and expenses. How can I establish a 501(c)(3) in Ohio?

In Ohio, you must perform the following actions in order to establish a 501(c)(3):

1. Decide on a name for the business: The organization’s name must be original and unheard of in Ohio.

2. Write the articles of incorporation, which describe the goals, organizational structure, and activities of the entity. A statement stating the organization is solely set up for charitable, religious, educational, scientific, or literary objectives should also be included in the declaration.

3. Submit the articles of incorporation to the Secretary of State’s office in Ohio: A $125 filing fee must be paid, and processing times can reach two weeks.

4. Request an Employer Identification Number (EIN) from the IRS. The EIN serves as the organization’s tax identification number.

5. Fill out the Form 1023 and submit it to the IRS to request tax-exempt status. The filing fee is either $600 or $275. A few months may pass while the request is processed.

So how many board members is a nonprofit in Ohio have to have?

Depending on the size and structure of the organization, a nonprofit in Ohio may need a different number of board members. However, a nonprofit corporation must have at least three directors according to the Ohio Revised Code.

Can you operate your own 501(c)(3)?

Technically, you could launch a 501(c)(3) organization by yourself. It’s crucial to keep in mind that establishing a charity can be a challenging procedure, thus consulting an attorney or nonprofit consultant is advised.

How much does it cost to file a 501(c)(3) with the IRS, then?

Depending on the organization’s total receipts, filing Form 1023 with the IRS to request tax-exempt status can cost more or less money. The filing charge for businesses with annual gross receipts of $10,000 or less is $275. The filing charge is $600 for businesses with gross receipts over $10,000.

In conclusion, establishing a nonprofit 501(c)(3) in Ohio entails a number of stages and expenses, including filing fees for the IRS Form 1023 and the Articles of Incorporation. To make sure that the organization is set up effectively and complies with state and federal rules, it is crucial to comprehend the criteria and obtain professional guidance.