Can a nonprofit save up funds and apply for tax exempt status later?
The IRS expects nonprofit organizations to apply within 27 months of formation.
Carol Topp
Homeschool mom, author and accountant. I enjoy helping homeschool leaders start and run their homeschool groups successfully.
EINs and individual information
EIN and individual information
IRS makes it easier to convert to a nonprofit corporation
For years I told small homeschool groups: “If you never incorporated as a nonprofit corporation in your state, then by default, your organization is an unincorporated association.” And I also told them that, “Unincorporated associations CAN apply for 501 tax…
Fundraisers for Classical Conversations communities
A Classical Conversations (CC) Director posted in a public social media forum this problem regarding fundraising: Our CC campus looked into fundraising but mostavenues did not work for us because we didn’t have nonprofit status. Wespecifically looked at Chick Fil…
Volunteer or donate plan in a homeschool co-op
Image by freepik Hi! I was wondering if my homeschool group can basically say, “In our homeschool co-op, we expect that every parent will volunteer at least 12 hours per semester per child. If you are unable to do so,…
Is our fundraising “Give or Get” goal OK?
“Hey Carol! I have a question for you. Discussing fundraising on your website you say, “I do know that it is not proper to “award” a family for raising more money than another family, nor is it proper to set…
Handout for Money Management and Reporting workshop
I was called out of my semi-retirement to speak to 120 homeschool leaders about Money Management and reporting! How could I refuse? Home Educators Association of Virginia is hosting its annual LeaderLife Conference in Washington, D.C. March 15 and 16,…
The differences in cost of starting a microschool or homeschool co-op
I read this very interesting article from Education Next titled “A New Crop of School Models Expands Choice” by Michael Q McShane, director of national research at EdChoice. In the article he examines the increasing popularity of microschools and hybrid…
Do homeschool groups have to file this new FinCEN report?
The US Department of Treasury wants all “business entities” formed by filing with their Secretary of State to register in 2024 in their new Beneficial Ownership Information Reporting. Here’s a handy information brochure. This new new federal database is designed…
IRS delayed implementing lower threshold for Form 1099-Ks again!
History repeats itself sometimes and this is a good time! The IRS is again delaying the implementation of lower reporting thresholds for Form 1099-K. Form 1099-K is a form a taxpayer (in this case a homeschool group) will receive if…