Non-profit - Please help!

[Jezreel]

I live in the State of Florida and will be filing for non-profit status for an organization that provides social services for the area. Can I accept donations and then once I gain non-profit status provide them with a receipt so it can be deducted from their taxes? Sort of making it retroactive??

Thank you,

Chris Gordon

 

[Jezreel]

You might be able to earn my business if you can answer my question.

Thank you,

Chris GOrdon

 

[ReiterLaw]

Chris,

The deductability of contributions to the organization is dependant upon the organization obtaining a 501(c)(3) determination from the IRS. You must file an application (IRS Form 1023) for 501(c)(3) status with the IRS. If the Form 1023 is filed within 27 months from the date of incorporation of the organization the 501(c)(3) determination will be retroactive (meaning that the recipient of a such exempt status will be able to offer tax-deductibility of donations back to the group's initial incorporation date). Generally, if Form 1023 is filed after 27 months from creation, the effective date will be the date the application was filed. Take a look at Publication 557 on the IRS's website for more information. Good luck.