Non Profit Youth Sports Organizations: Discussion Topics

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Non Profit Youth Sports Organizations

Non Profit Youth Sports Organizations:Discussion Topics


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Non Profit Youth Sports Organizations
Kathi Judkins
3729 Byrd Drive
Mesquite, Texas
75150

Discussion Topics: What forms do I file with IRS?

What forms do I file with IRS?
Use the link provided to download and print IRS forms you need.

If you haven't already done so, the first step is to file IRS Form SS-4 for a federal identification number. This number has nine digits just like a social security number except it is for a group. It has two numbers a dash and seven more numbers.

This number is also called an FEIN, EIN or TIN (taxpayer ID number) so don't let the terminology throw you off.

Please read the section on "tax exempt numbers" for more info.

Once you have this number you need to file a Form 1023, Application for 501(c)(3) Tax Exempt Status. Don't let the number of pages for this form scare you off. Much of it is instructions and pages that don't apply to youth sports. The instructions talk about the required wording in your Organizing Documents and the $500 application fee you must pay to IRS when filing the form.

You must give budget information to show how you plan to both raise and spend your money. A copy of Organizing Documents and your By Laws must also be sent with the form.

Once you have become approved, your Treasurer will file an annual return called a Form 990 which basically just discloses how you raised your funds and spent it. No tax is due with this return unless you slip up and become subject to what is called the UBIT (Unrelated Business Income Tax). That is another discussion topic in itself!

****************DISCLAIMER****************
The author is a CPA but not an attorney and is not qualified to render legal services. Check with an attorney to verify the correct information for your state.

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