Treasury.IndependentNonProfit History

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May 08, 2013, at 09:44 AM by geoff -
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Financial Independence

If Quelab wishes to become an independent Non-Profit entity from the School Factory (Space Federation), at this time we will need the following (the rules may change):

  • IRS 1023
  • IRS 8718 (and $400)

The IRS1023 is the application form, and 8718 is the payment voucher. It will cost us $400 to apply for Non-Profit Status, and if we have not been in business (as a corporation) for more than three years, we will have to provide a budget of our next three years of activity.

If we project we will accrue more than $10,000 a year in revenue per year for the next four years (averaged) the fee jumps to $850 (I think we'll be OK).