Approved Form 1023 Data Now Available Online

By Deb Nelson, CPA, Senior Tax Manager  Deb Nelson

In efforts to provide information about tax exempt organizations to the general public, the IRS has announced that data from previously filed and approved Form 1023-EZ applications will be available electronically.

The IRS released the streamlined exemption application in July 2014 to assist smaller organizations in obtaining tax-exempt status under 501(c)(3). Most organizations with gross receipts of $50,000 or less and assets of $250,000 or less are eligible. The 1023-EZ contains limited information, but does include the following:

  • Name, address and phone number
  • Year-end
  • Employer identification number
  • Names of officers, directors and trustees
  • Whether the organization is a corporation, unincorporated association, or trust
  • Date of incorporation and applicable state
  • NTEE Code that describes intended activities as well as several yes/no questions about activities; such as whether or not compensation will be paid to any officers, directors or trustees
  • Type of classification – public charity or private foundation

This data will be updated quarterly on the IRS website and will allow taxpayers to more easily research information on tax exempt organizations. To read the full news release click here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s