Nonprofit Coworking and Technology Event Space

Delray Tech Space has chosen the corporation format of a nonprofit coworking space. We are in the stages of filing for a 501(c)3.

 

Via: http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Contributions-to-Organization-with-IRS-Application-Pending

Contributions to Organization with IRS Application Pending

When the IRS approves a timely filed exemption application, exempt status is recognized back to the date the organization was created. Thus, while an application is pending, the organization can treat itself as exempt from federal income tax under section 501(c)(3).  For example, it must file Form 990 (instead of an income tax return) while its application is pending.  However, contributors to the organization do not have advance assurance of deductibility because the organization’s exemption is pending.  If the organization ultimately qualifies for exemption for the period in which the contribution is made, the contribution will be tax-deductible by the donor.  Alternatively, if the organization ultimately does not qualify for exemption, then the contribution will not be tax deductible.

 

Delray Tech Space - non profit coworking and technology event space in Delray Beach

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©2017 Delray Tech Space a nonprofit coworking office space and technology event space. Delray Tech Space Coworking Service Agreement

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