[Finance] welcome to the hackerspaces finance list!

[Jeff Cotten]

hello!  welcome to the finance mailing list for hackerspaces :)

I'm hoping one of the things that comes out of this list is us sharing and
resources we find that we think other hackerspaces would care about.
I'm currently serving on the finance committee for the Makers Local 256 out
of Huntsville, AL.

The idea for the list came about when I was telling people about how it
helped us when Hacker Consortium out of Nashville, TN pointed us in right
direction for applying for 501c3 IRS charity recognition.

So in that spirit, here's some interesting information I learned which might
interest other hackerspaces.
This comes from Gumbolabs down in New Orleans, it's information about an
upcoming decrease in 501c3 application fees.






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As I brought up in the mailing list I think it makes sense to wait on filing
the 501(c)(3) paperwork because the fees will be changing with the release
of the IRS' Cyber Assistant. At that point the fee will drop from $850 to
$200 if we use this new online service. The summary of this impending change
is listed on the IRS Form 1023 <http://www.irs.gov/pub/irs-pdf/f1023.pdf>.
Per the form:

Part XI. Increase in User Fees.
User fee increases are effective for all applications postmarked after
January 3, 2010.

   1. $400 for organizations whose gross receipts do not exceed $10,000 or
   less annually over a 4-year period.
   2. $850 for organizations whose gross receipts exceed $10,000 annually
   over a 4-year period.

See http://www.irs.gov web page link on Form 1023, page 12, Part XI, User
Fee Information, for the current user fees.
Cyber Assistant, a web-based software program designed to help organizations
prepare a complete and accurate Form 1023 application, will become available
during 2010. Once the IRS announces the availability of Cyber Assistant, the
user fees will change again.

   1. $200 for organizations using Cyber Assistant (regardless of size) to
   prepare their Form 1023, or
   2. $850 for all other organizations not using Cyber Assistant (regardless
   of size) to prepare their Form 1023.

IRS will announce when Cyber Assistant is available and the effective date
of the user fee change. Sign up for the Exempt Organization (EO) Update,
EO’s subscription newsletter, at http://www.irs.gov/charities, to
automatically receive an alert that Cyber Assistant is available.

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According to this website, "*On May 7, 2010, the IRS announced that the
Cyber Assistant will be delayed.  It will not be released during calendar
year 2010*."
http://501c3book.org/Cyber_1023.html


~Omegix
Makers Local 256 (on the finance committee, Brimstone is our Treasurer)
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