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Old April 27th 20, 03:35 PM posted to rec.aviation.soaring
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Default Our New Club Ship Becoming Reality

The "average" application takes around 4mo to be approved; with outliers a bit beyond 1yr, depending on how it was set up. There are many different types of 501(c)(x) non-profits, some social clubs go for the 501(c)(7). Regardless, the IRS does permit a retroactive status to funds taken in when the entity was first established (depending on rules). Caution; the type of 501(c) dictates how assets are distributed after dissolution of the organization (e.g., must be donated to an "in-kind" entity vs individuals.

On Monday, April 27, 2020 at 9:00:42 AM UTC-5, John DeRosa OHM Ω http://aviation.derosaweb.net wrote:
I'd like to know how a new club only three years old convinced the IRS to agree to allowing it to be a 501-C3? I know of several much older clubs that were recently denied this classification.