Setting up a 501c3 organizationwill start with filing form 1023, which costs$600. There is a shorter form available to smaller organizations that costs only $275. You may wish to hire a CPA to help fill these out, who may charge anywhere from $2,500 to $15,000 depending on the size of the operation.
Pro: Tax Exemption. The chief benefit of a 501 (c) (3) is that it is generally exempt from paying tax on its income. Pro: Tax-Deductible Donations. Most donations made to a 501 (c) (3) can be used as a tax deduction by the donor.
Pro: Tax Exemption. The chief benefit of a 501 (c) (3) is that it is generally exempt from paying tax on its income.
Pro: Tax-Deductible Donations. Most donations made to a 501 (c) (3) can be used as a tax deduction by the donor.