So, I spent a little time today looking into the intricacies of filing paperwork to create the 37 Foundation as an Arizona non-profit corporation that might be eligible for 501(c)(3) tax-exempt status.  Here’s what I learned:

  • First and foremost, I learned that tax law is not an area that I’m particularly comfortable with… 🙂
  • In order to be considered for 501(c)(3) tax-exempt status, I can’t use the Arizona Corporation Commission’s Articles of Incorporation form, as it leaves out provisions that the IRS requires for tax-exempt consideration.  So, I’ll have to take and create a unique Articles of Incorporation document that uses both the Arizona requirements and the IRS requirements.
  • IF I want to apply for 501(c)(3) status, it apparently takes 3-10 months on average, and will cost me a filing fee of $400-850.  The worst part is that I’m not even sure which of these applies to me…

So…if anyone out there has experience with such things and would like to help me form this foundation with the least possible pain involved, please reach out (David.Lieb@37foundation.org) and let me know…

David

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