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Incorporated vs Unincorporated

The basic difference between a nonprofit being incorporated (also called a “corporation”) or unincorporated is whether it files formation paperwork with its state. Only incorporated nonprofits need to file formation documents. A corporation is normally preferable to an unincorporated association because, in most states, corporations provide a personal liability shield to insiders (directors, officers, and members),

Type of 508s

Section 508(c)(1)(A) of the tax code mention the 4 ways to operate a 508: Church Integrated Auxiliary of a Church* Association of Churches Convention of Churches *What is an Integrated Auxiliary? In a nutshell, an Integrated Auxiliary is typically a separately formed legal entity operating a ministry extension, or branch, of a church. Integrated Auxiliaries are

What is a 508 Trust?

Is there such a thing as a “508 Trust” or a “Private, Irrevocable, Common Law, Ecclesiastical Trust”? The short answer is, no. To be considered”Ecclesiastical”, a nonprofit organization must be a legitimate and compliant church, integrated auxiliary of a church, association of churches, or a convention of churches (also called a “508”). Forming a nonprofit

2024 Corporate Transparency Act (CTA)

On January 1, 2024, the Corporate Transparency Act (CTA) took effect and governs corporations, limited liability companies, and other similar entities created in or registered to do business in the United States. Beginning January 1, 2024, domestic and foreign reporting companies must file reports with Financial Crimes Enforcement Network (FinCEN) that provide information about the

Taxation of Unrelated Business Income

Income derived from activities unrelated to a tax-exempt organization’s purposes is taxed as if earned by a comparable for-profit entity. This is called Unrelated Business Income Tax (UBIT). Generally, such income is subject to tax at the regular corporate rates. In computing unrelated business income taxes, most recognized business deductions are available to exempt organizations.

Nonprofit Single-Member LLCs

According to UpCounsel, “a single-member nonprofit corporation is a corporation that has been established for charitable purposes and has only one owner.” That one owner will be your 508. According to the IRS, “An LLC that has one member will be classified as a “disregarded entity.” A disregarded entity is one that is disregarded as an

Free 508 Consultation

Based on your answers and information about your ministry, we believe you can operate as a 508! Use the calendar below to schedule a free 1-on-1 508 Consultation. During your consultation, we will discuss your specific compliance needs, answer any questions you may have, then discuss the next steps we suggest for your ministry.

Suggested Board Meeting Documents Review Schedule

First Board Meeting Articles of Incorporation/Association Bylaws w/ Founding Individual(s) Protection Adoption of Bylaws Board of Directors Agreement Board Resolution of Election of Directors Board Resolution Recognizing Members Board Resolution to Open a Bank Account Second Board Meeting Conflict of Interest Policy Board Resolution of Adoption of Conflict of Interest Policy Statement of Faith (Long)

508 Formation Special

Over the last 12 months, you completed our 508 Compliance Test on our website at the508company.com, so we’re extending you a special offer today only that gives you our 508 Formation service for $3,600 $1,500! Saving you hours of time and thousands of dollars. Go to https://the508company.com/getstarted to get started today. If you’re not currently operational, we will

Compliance

508 Compliance Test™ | Page 2

1Contact Information2The Test Contact Information Name* First Last Email* Phone*State*SELECT STATEAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of Columbia (DC)FloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming Organization Information Is your organization currently operational?* Yes No Name of current organization* Organization Street Address* Street Address Address Line 2 City STATEAlabamaAlaskaAmerican SamoaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaGuamHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth

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“The I.R.S. examined 1.4 million individual income tax returns in 2010, about 1 percent of the total number filed. In 2018, the latest year with available data when Republicans started making these claims, audits decreased to 370,000, or about 0.2 percent… The budget office estimated increasing I.R.S. funding would return enforcement to its 2010 levels. Doing so would result in about 1.2 million more audits; of those, 583,000 would target people making less than $75,000.”

The New York Times, “Fact-Checking the Misleading Claim About 87,000 Tax Agents”, November 6, 2022

“…For example, you educate believers on national issues that are central to their belief in the Bible as the inerrant Word of God. Specifically, you educate Christians on what the bible says in areas where they can be instrumental including the areas of sanctity of life, the definition of marriage, biblical justice, freedom of speech, defense, and borders and immigration, U.S. and Israel relations. The bible teachings are typically affiliated with the Republican party and candidates. This disqualifies you from exemption under IRC Section 501(c)(3).”

Stephen A. Martin, IRS Director, Exempt Organizations, Rulings and Agreements

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Your contribution helps a church or religious organizations take back their First Amendment religious rights, operate according to their Biblical faith, and protect the privacy of their donors.