Frequently asked questions

1. What are the eligibility criteria for applying for 501(c)(3) status?

Your organization must already be established as a nonprofit (either incorporated or chartered). It should have been incorporated or formed within 25 months prior to initiating the 501(c)(3) application. The formation date is determined by the earliest of your EIN/Tax ID number issuance, articles of incorporation, or charter. Additionally, the organization is restricted from including certain programs such as financial literacy (which may need to be renamed) and disaster relief in its application.

2. Are nonprofit organizations and 501(c)(3) tax-exempt organizations the same?

No, they are different. A nonprofit organization is created at the state level through the Secretary of State’s office. Obtaining 501(c)(3) tax-exempt status is the next step that follows nonprofit establishment. This tax exemption is crucial as it allows the organization to receive tax-deductible donations and qualify for grants and other funding opportunities. To access these benefits, an official 501(c)(3) tax-exempt letter from the IRS is necessary.

3. What does the $475.00 fee for 501(c)(3) application preparation include?

For $475.00, Strategic Management LLC will handle the preparation of your organization's 501(c)(3) application from start to finish.

4. Is the IRS filing fee of $275.00 included in the service price?

No, the $275.00 IRS filing fee is a separate cost and paid in the store. Strategic Management LLC then sends the fee, along with the 501c3 application to the IRS.

5. How can I utilize Klarna, Afterpay or Cash App to pay for services or products from Strategic Management LLC?

Klarna, Afterpay and Cash App allow you to split your payment into four installments over six weeks, with payments due every two weeks. This payment option provides greater flexibility, making it easier and more convenient to engage with our services on a schedule that suits you.

6. What is the turnaround time for completing the 501(c)(3) application after submission?

Once you submit your organization's information, we typically complete the preparation of the 501(c)(3) application within seven business days.