• 123: Take Off Those Donor Goggles | What to Do When Your IRS 1023 Application is Pending

  • Oct 17 2024
  • Length: 16 mins
  • Podcast

123: Take Off Those Donor Goggles | What to Do When Your IRS 1023 Application is Pending

  • Summary

  • In this episode of Charity Therapy, my co-host Meghan and I are answering one of the top questions we get - what happens while an org’s nonprofit tax exempt status is pending?

    We know that the IRS application process for 501(c)(3) status can feel like climbing a mountain in flip-flops, so we're here to break it down for you. We'll chat about the differences between the 1023-EZ form and the full 1023, and give you the lowdown on processing times and eligibility requirements. Plus, we'll answer a listener's burning question about whether you should wait for IRS approval before getting your nonprofit up and running. Spoiler alert: you don't have to just twiddle your thumbs!

    But let's be real, starting a nonprofit isn't just about paperwork. It's about passion, community, and making a difference. We'll share some laughs and maybe a few zany stories as we explore the importance of community support in spreading your nonprofit's mission. We'll also talk about how you can start building those vital connections and getting things moving, even while you're waiting for that IRS letter to show up in your mailbox.

    Finally, we'd love for you to join our growing community. Share this episode with your friends, hit that subscribe button, and don't forget to rate and review us. It really helps more people find us and get the support they need. And hey, if you've got a story or a question, reach out to us online. We're eager to hear from you and keep this conversation going. Thanks for being part of our journey into the world of nonprofits—you're not alone in this, and we're cheering you on every step of the way!

    In this episode, you will hear:
    • The real differences between the 1023-EZ and the full 1023 form—quick snack vs. full-course meal for your nonprofit!

    • How long it’ll take for the IRS to review your application

    • What you can and can’t do after you file the application

    • How to stay out of trouble before your letter comes in the mail

    • What to tell donors when you’ve applied but haven’t gotten your status yet

    Resources from this Episode

    Check out Next in Nonprofits: www.nextinnonprofits.com

    Sign up for the Birken Law Email list: birkenlaw.com/signup

    Facebook page: www.facebook.com/birkenlaw

    Follow and Review:

    We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

    Episode Credits

    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

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