Illinois Board Statement of Understanding
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Apply for 501(c) Agency:Internal Revenue Service (IRS)Filing Method:MailAgency Fee:$275 for organizations filing Form 1023-EZ and $600 for organizations filing Form 1023.Turnaround:1023-EZ average: <1 month. 1023 average: 3-6 months.2 more rows
If the not-for-profit organization is operated entirely for a charitable, religious or educational purpose, it may apply for an Illinois exempt (E) number. An E number allows for the charity to be exempt from sales tax on most purchases relating to the charity.
Most of the cost to start a nonprofit in Illinois will actually be paid to the IRS. To get federal tax-exempt status, you will need to file Form 1023 or Form 1023-EZ with the IRS, which costs $600 or $275, depending on the form. The cost paid to Illinois will be for the following: Articles of Incorporation $50.
Name Your Organization. ... Recruit Incorporators and Directors. ... Appoint a Registered Agent. ... File Articles of Incorporation. ... Obtain an Employer Identification Number. ... Hold First Board of Directors Meeting and Establish Bylaws. ... Get Illinois State Tax Identification Numbers/Accounts. ... Apply for 501c(3) Status.
There must be at least three directors. They do not have to be Illinois residents or corporation members. You may list between three and seven directors on the Articles of Incorporation.
Follow these steps to form a 501(c)(3) nonprofit corporation in Illinois. Choose directors for your nonprofit. Choose a name for your nonprofit. Appoint a registered agent. File Illinois nonprofit Articles of Incorporation. Prepare nonprofit bylaws. Hold a meeting of your board of directors.
To start a nonprofit corporation in Illinois, you must file nonprofit articles of incorporation with the Illinois Secretary of State. You can file your articles online, in person, or by mail. The articles of incorporation cost $50 to file plus a payment processing fee of up to $4.
