Wyoming Grant Agreement from 501(c)(3) to 501(c)(4)
Description
How to fill out Grant Agreement From 501(c)(3) To 501(c)(4)?
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FAQ
Can a 501(c)(3) organization change into a 501(c)(4) organization? A 501(c)(3) organization cannot change into a 501(c)(4) organization. But it can dissolve to create a new 501(c)(4) organization.
Grants from a 501(c)(3) to a 501(c)(4) should not be made to cover fundraising costs or general support of the 501(c)(4) (this is to protect the 501(c)(3) from the grant being used for impermissible purposes).
The act of raising funds for a 501(c)(4) organization is essentially the same as raising money for other types of organizations; it requires that you make the case to donors and ask them for contributions. But it does come with its own set of rules and regulations and your pool of donors will be different.
Answer: An organization that was previously recognized as tax-exempt under another subsection of 501(c), such as 501(c)(4) or 501(c)(6), generally may convert to 501(c)(3) status by making the necessary amendments to its Articles of Incorporation and submitting a Form 1023 application to the IRS.
In addition to 501c3 organizations, 501c3 nonprofits can also donate to 501c4 organizations. These contributions must be used for charitable purposes, and no amount can be used for political activities.
To qualify and maintain 501c4 status, an organization can't spend more than half of their funds on political-related things. The technical majority of their spending (50.1 percent) needs to be focused on social welfare projects within their chosen locations.
Social welfare associations may secure funds to support their associations through grants, fundraising, government funding, and public donations, much like nonprofit organizations. Typically, social welfare associations get the bulk of their funding through membership dues or fees.
Grants to a 501(c)(4) Organization While a 501(c)(3) organization may be prohibited from distributing its remaining assets upon dissolution to a 501(c)(4) organization, it can make a grant to a 501(c)(4) organization.
Restrictions of a 501c4 The 501c4 organization cannot stand in support of or against any politician, whether done indirectly or directly. However, the 501c4 is allowed to partake in minimal political activity, but those activities cannot become the focus of the organization.