Elliott & Davis - Obtaining 501(c)(3) Tax-Exempt Status

Home | Obtaining 501(c)(3) Tax-Exempt Status

Obtaining federal tax-exempt status is perhaps the most important step in the life of a nonprofit organization. This is because most of the benefits that nonprofits enjoy are associated with their tax-exempt status more so than their status as corporations. In particular, these benefits include income and property tax exemptions, the ability to receive tax-deductible donations, and increased access to grants.

In order to receive tax-exempt status from the Internal Revenue Service, you must first fill out IRS Form 1023: "Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code."

The 1023 Application is complex and technical. For anyone unfamiliar with the application, the process can be incredibly time-consuming and overwhelming. The attorneys at Elliott & Davis have experience completing the 1023 Application on behalf of many different types of nonprofit organizations. We are prepared to work with you through every step of the application to make the process of receiving tax-exempt status simple and easy, leaving you and your organization free to focus on what you do best.