Important Information about the 2024 National Corporate Transparency Act

501(c)(3) Filings

UNDERSTANDING CHARITABLE ORGANIZATIONS, TAX-EXEMPT STATUS, and the IRS:

Simply forming a non-profit corporation does not automatically qualify you for federal and state tax exemption. However, only an officially recognized non-profit corporation can apply for federal and state tax exemption. This application is often referred to as the 501(c)(3) application (Form 1023) since this is the IRS code section most commonly applicable to non-profits (Charitable, Educational, Religious, Scientific, Cultural/Literary, Prevention of Cruelty to Children or Animals). There are more than 20 code sections for non-profit qualification, as indicated by the IRS Chart Below.

GET STARTED

  • Create and file your organization according to New York State Law, identifying the appropriate federal tax classification
  • Apply for Employer Identification Number with the IRS
  • Apply with the IRS for Exemption:  Acquire, complete, and submit the proper application forms, include a certified copy of the Certificate of Incorporation, a copy of the Minutes and By-Laws, and any related financial information required.
  • BE AWARE of Annual Required Filings:  Annual exempt organization returns, charities registration forms and annual reports, unrelated business income tax filings, and other returns and reports that an organization may have to file. Check with your financial advisor or accountant. It is important to comply with all requirements to avoid jeopardizing your tax exempt status, as well as your active status with New York State.

IRS CODE Reference Chart

1986 Code
501(c)(1)
501(c)(2)
501(c)(3)
501(c)(4)
501(c)(5)
501(c)(6)
501(c)(7)
501(c)(8)
501(c)(9)
501(c)(10)
501(c)(11)
501(c)(12)
501(c)(13)
501(c)(14)
501(c)(15)
501(c)(16)
501(c)(17)
501(c)(18)
501(c)(19)
501(c)(21)
501(c)(22)
501(c)(23)
501(c)(25)
501(c)(26)
501(c)(27)
501(d)
501(e)
501(f)
501(k)
501(n)
521(a)
Description of Organization
Corporations Organized Under Act of Congress (including Federal Credit Unions)
Title Holding Corporation For Exempt Organization
Religious. Educational, Charitable, Scientific, Literary. Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations
Civic Leagues, Social Welfare Organizations, and Local Associations of Employees
Labor, Agricultural, and Horticultural Organizations
Business Leagues, Chambers of Commerce, Real Estate Boards, Etc.
Social and Recreation Clubs
Fraternal Beneficiary Societies and Associations
Voluntary Employees’ Beneficiary Associations
Domestic Fraternal Societies and Associations
Teachers’ Retirement Fund Associations
Benevolent Life Insurance Associations, Mutual Ditch or Irrigation Companies, Mutual or Cooperative Telephone Companies, Etc.
Cemetery Companies
State Chartered Credit Unions, Mutual Reserve Funds
Mutual Insurance Companies or Associations
Cooperative Organization to Finance Crop Operations
Supplemental Unemployment Benefit Trusts
Employee Funded Pension Trust (created before June 25, 1959)
Post or Organization of Past or Present Members of the Armed Forces
Black Lung Benefit Trusts
Withdrawal Liability Payment Fund
Veterans Organization (created before 1880)
Title Holding Corporation or Trusts with Multiple Parents
State-Sponsored Organization Providing Health Coverage for High-Risk Individuals
State-Sponsored Workers’ Compensation Reinsurance Organization
Religious and Apostolic Associations
Cooperative Hospital Service Organizations
Cooperative Service Organizations of Operating Educational Organizations
Child Care Organization
Charitable Risk Pools
Farmers; Cooperative Associations
General nature of activities
Instrumentalities of the United States
Holding title to property of an exempt organization
Activities of nature implied by description of class of organization
Promotion of community welfare; charitable, educational or recreational
Educational or instructive, the purpose being to improve conditions of work, and to improve products and efficiency
Improvement of business conditions of one or more lines of business
Pleasure, recreation, social activities
Lodge providing for payment of life, sickness, accident, or other benefits to members
Providing for payment of life, sickness, accident, or other benefits to members
Lodge devoting its net earnings to charitable, fraternal, and other specified purposes. No life, sickness, or accident benefits to members
Teachers’ association for payment of retirement benefits
Activities of a mutually beneficial nature similar to those implied by the description of class of organization
Burials and incidental activities
Loans to members
Providing insurance to members substantially at cost
Financing crop operations in conjunction with activities of a marketing or purchasing association
Provides for payment of supplemental unemployment compensation benefit
Payment of benefits under a pension plan funded by employees
Activities implied by nature of organization
Funded by coal mine operators to satisfy their liability for disability or death due to black lung diseases
To provide funds to meet the liability of employers withdrawing from a multi-employer pension fund
To provide insurance and other benefits to veterans
Holding title and paying over income from property to 35 or fewer parents or beneficiaries
Provides health care coverage to high-risk individuals
Reimburses members for losses under workers’ compensation acts
Regular business activities. Communal religious community
Performs cooperative services for hospitals
Performs collective investment services for educational organizations
Provides care for children
Pools certain insurance risks of 501(c)(3)
Cooperative marketing and purchasing for agricultural producers
Application Form No.
No Form
1024
1023
1024
1024
1024
1024
1024
1024
1024
No Form6
1024
1024
No Form6
1024
No Form6
1024
No Form6
1024
No Form6
No Form6
No Form6
1024
No Form6
No Form6
No Form
1023
1023
1023
1023
1028
Annual return required to be filed
None
9901 or 990EZ8
9901 or 990EZ8, or 990-PF
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
990-BL
9901 or 990EZ8
9901 or 990EZ8
990 or 990EZ
9901 or 990EZ8
9901 or 990EZ8
10659
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
990-C
Contributions allowable
Yes, if made for exclusively public purposes
No2
Yes, generally2,3
No, generally2,3
No2
No2
No2
Yes, if for certain Sec. 501(c)(3) purposes
No2
Yes, if for certain Sec. 501(c)(3) purposes
No2
No2
Yes, generally
No2
No2
No2
No2
No2
No, generally7
No4
No5
No, generally7
No
No
No
No2
Yes
Yes
Yes
Yes
No
Description of Organization
Corporations Organized Under Act of Congress (including Federal Credit Unions)
Title Holding Corporation For Exempt Organization
Religious. Educational, Charitable, Scientific, Literary. Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations
Civic Leagues, Social Welfare Organizations, and Local Associations of Employees
Labor, Agricultural, and Horticultural Organizations
Business Leagues, Chambers of Commerce, Real Estate Boards, Etc.
Social and Recreation Clubs
Fraternal Beneficiary Societies and Associations
Voluntary Employees’ Beneficiary Associations
Domestic Fraternal Societies and Associations
Teachers’ Retirement Fund Associations
Benevolent Life Insurance Associations, Mutual Ditch or Irrigation Companies, Mutual or Cooperative Telephone Companies, Etc.
Cemetery Companies
State Chartered Credit Unions, Mutual Reserve Funds
Mutual Insurance Companies or Associations
Cooperative Organization to Finance Crop Operations
Supplemental Unemployment Benefit Trusts
Employee Funded Pension Trust (created before June 25, 1959)
Post or Organization of Past or Present Members of the Armed Forces
Black Lung Benefit Trusts
Withdrawal Liability Payment Fund
Veterans Organization (created before 1880)
Title Holding Corporation or Trusts with Multiple Parents
State-Sponsored Organization Providing Health Coverage for High-Risk Individuals
State-Sponsored Workers’ Compensation Reinsurance Organization
Religious and Apostolic Associations
Cooperative Hospital Service Organizations
Cooperative Service Organizations of Operating Educational Organizations
Child Care Organization
Charitable Risk Pools
Farmers; Cooperative Associations
General nature of activities
Instrumentalities of the United States
Holding title to property of an exempt organization
Activities of nature implied by description of class of organization
Promotion of community welfare; charitable, educational or recreational
Educational or instructive, the purpose being to improve conditions of work, and to improve products and efficiency
Improvement of business conditions of one or more lines of business
Pleasure, recreation, social activities
Lodge providing for payment of life, sickness, accident, or other benefits to members
Providing for payment of life, sickness, accident, or other benefits to members
Lodge devoting its net earnings to charitable, fraternal, and other specified purposes. No life, sickness, or accident benefits to members
Teachers’ association for payment of retirement benefits
Activities of a mutually beneficial nature similar to those implied by the description of class of organization
Burials and incidental activities
Loans to members
Providing insurance to members substantially at cost
Financing crop operations in conjunction with activities of a marketing or purchasing association
Provides for payment of supplemental unemployment compensation benefit
Payment of benefits under a pension plan funded by employees
Activities implied by nature of organization
Funded by coal mine operators to satisfy their liability for disability or death due to black lung diseases
To provide funds to meet the liability of employers withdrawing from a multi-employer pension fund
To provide insurance and other benefits to veterans
Holding title and paying over income from property to 35 or fewer parents or beneficiaries
Provides health care coverage to high-risk individuals
Reimburses members for losses under workers’ compensation acts
Regular business activities. Communal religious community
Performs cooperative services for hospitals
Performs collective investment services for educational organizations
Provides care for children
Pools certain insurance risks of 501(c)(3)
Cooperative marketing and purchasing for agricultural producers
Application Form No.
No Form
1024
1023
1024
1024
1024
1024
1024
1024
1024
No Form6
1024
1024
No Form6
1024
No Form6
1024
No Form6
1024
No Form6
No Form6
No Form6
1024
No Form6
No Form6
No Form
1023
1023
1023
1023
1028
Annual return required to be filed
None
9901 or 990EZ8
9901 or 990EZ8, or 990-PF
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
990-BL
9901 or 990EZ8
9901 or 990EZ8
990 or 990EZ
9901 or 990EZ8
9901 or 990EZ8
10659
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
9901 or 990EZ8
990-C
Contributions allowable
Yes, if made for exclusively public purposes
No2
Yes, generally2,3
No, generally2,3
No2
No2
No2
Yes, if for certain Sec. 501(c)(3) purposes
No2
Yes, if for certain Sec. 501(c)(3) purposes
No2
No2
Yes, generally
No2
No2
No2
No2
No2
No, generally7
No4
No5
No, generally7
No
No
No
No2
Yes
Yes
Yes
Yes
No