In the past, the amount of work and information necessary to file an IRS 501c3 application was daunting. It was often quite costly with the filing fee of $750 and legal fees were from $2500-$5000 because of the extensive paperwork. After all that, it often took up to 15 months to get a final decision from the IRS!
Today, there is an expedited application process that has totally changed the costs and timeframes for approval. If you are starting up a non-profit corporation with an initial income of less than $50,000 you qualify to use the expedited process.
The filing fee is now $275, the legal fees may range from $500-$1500 and the approval process can take less than 120 days once the application has been submitted.
Maybe it’s time you considered turning your non-profit into a 501c3 Tax Deductible Charity?