Jay,

You don't have to wait a year to start taking donations. You can start taking
them immediately. It just takes the IRS a while to approve your Determination
Letter. It shouldn't be a problem. But you will have some filing issues if
you take in over $25,000 in a year (I believe that's the amount). Find someone
who runs a local 501c(3) and ask them or pay an accountant.


Trip


In article ,
says...

"Jay Honeck" wrote in message

Anyone here been down that road? Any words of advice before we jump into
the shark-infested waters? :-)

I'm sure you already thought about this but for what it's worth: Apply for
501 3 (c) "non profit" status so that contributions are tax deductible.

It is a real hassle to apply for and will take about a year to finalize the
deal. It will be worth it of you wish to snag that "big fish" with lots of
money who needs a deduction.

--
Jim Fisher