Re: [PLUG] Non-Profit -- was The Next Step? -- was Community Serv ice Project (Devil's advocate)

[Art Clemons <artclemons@aol.com>]

Jeyes, David:
>Just because you're incorporated as a nonprofit, you are not 
>necessarily a 501(c)3. This distinction is important because
>you cannot write off donations to nonprofit organizations that
>are not registered as 501(c)3 with the IRS.

I know, but the point was that a non-profit corp can be set up and 
running in a few days.

>Registering as 501(c)3 can take months or even years.

It can, but the real trick seems to be filling out the forms honestly 
and properly, and the willingness to comply with the IRS requirements. 
Might I also point out that just being incorporated has certain 
liability advantages for PLUG participants if it's ever sued and the 
rules for being a corporation are followed.  That's true even if it 
never gets 501(c)(3) status is never gotten.  One more thing, there are 
former IRS employees floating around who are willing to offer advice on 
how to speed up applications, they can't give legal advice or tax advice 
but do know what works and what doesn't when applying.

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