PTO Today

CapeDad,

I believe I have searched all of the archives but I have not come accross one narrative ? Can you point me in the right direction?

Art

I think it's an overstatement to say the new form is a simplification. Maybe for the IRS, it is! The 1023 now requires a group to provide way more narrative information to substantiate their organization. The old form left alot to vague interpretation, that would often require the IRS to followup with the applicant. Obviously that slowed down the application process.

I've only actually filed the old form, but I did a lot of research on the new version. By my count, there's about 25 different places on the new form where you have to write an attachment. The old form wasn't so labor intensive.

The good news in all this? By the time you finish the application, you will have an incredible knowledge of how your PTO will/does operate. And the IRS will have the information they need to approve your application quickly.

[url="http://www.ptotoday.com/cgi-ptotoday/ultimatebb.cgi?ubb=get_topic;f=5;t=000641"]This is one thread[/url]

It is probably not exactly right (for the new narrative form) but there is at least one good example of what kind of language they are looking for.

Thank You Everyone!

I am now reviewing and analyzing my responses!

Everyone has been so generous with information... You have all convinced me to Join PTO Today. If the rest of the membership is nearly as generous with their workproduct this is a no-brainer!

I will make my entire 501(c)(3) available for review when the IRS responds with an approval...

Unless... Anyone would like to review before I submit?

Art

FlaDad - I filed and received the determination for two PTOs in the last few months. If you post your specific question or your email address (?), perhaps I can share what I did.

I have a question. We are not incorporated yet, and I realize that we need to be.That won't be a problem (at least I don't think so.) Anyway, my question is about where you have to list the financial data (Part IX). We have been around since 1983 or so, but have never (to my knowledge) filed a return.

When we fill out the 1023 do we use the incorporation date as the beginning date of existence? Or do we use the date the PTO was actually formed and use the financial data for the previous 3 years even though we weren't incorporated at that time? Clear as mud? This is a bigger task than I thought it was going to be.

I believe that when you incorporate you create a new legal entity. That's why if you do the 501(c)(3) first and then incorporate, it doesn't transfer - you have to apply again.

When we were faced with a similar situation, we decided that it would be cleaner just to create a brand new organization - at least on paper - from the date we started to formalize. We didn't have good records for previous years, those officers were long gone. As far as we were concerned, it was the end of one organization, the beginning of another.

But this is purely an opinion.

[ 09-17-2005, 02:52 PM: Message edited by: JHB ]

njmom...

My forms are sitting on my desk and the more I review them the more I end up changing them. I was wondering if anyone would be willing to e-mail me a copy of theirs with attachments so I may see If I am on the right track, especially with the narrative in part IV.

Art, [email]arth@lifelinkfound.org[/email]

Thanks, JHB. That was how I was thinking, but I wanted to get an opinion from somebody who has already been through the trenches.

We applied the same logic as JHB and received our 501c3, no questions asked. It's actually a lot easier if your "old" organization is newly incorporated because then you don't have to dig up historical financial data.