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Description:
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Establishing an IRS Tax-Exempt 501(c)3 nonprofit status is imperative to setting up your
nonprofit for funding success. Most foundations and federal agencies require this status
when awarding grants. Furthermore, this status will help your nonprofit establish credibility
as donors will feel confident that you are not a crooked fronted company looking for easy
dollars. Don’t get me started! This tax status will also allow private donors and corporations
to receive a tax deduction! Therefore, this should be a first step after you have created your
board of directors and articulated the needs that your project will fill.
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