We wish to aquire assets to expand the public exposure to increase our fund raising abilities. We give to local charities and want to do more. I'm told by our treaurer that we are limited to $10,000 in checking and can't hold any assets, because of the tax structure. This restriction limits on what donation we can receive. Without spending the money to go to a CPA, do we have other options? We are a non-profit organization that is filed with the state of Florida. Thanks for any help.
All you have to do is file for a nonprofit 501(c)3 with the irs. You will need articles of incorporation and by-laws. Once you have a legitimate 501(c)3, your restriction should be lifted. |
