501 C3

Started by Wolfstar, 01/13/2011 12:52AM
Posted 01/13/2011 12:52AM Opening Post
Figure this is probably the best place to put this.
My wife and I would like to set up a 501C3 for our wolf and wolf hybrid rescue operations. Anyone out there have any pointers? Suggest any pitfalls to avoid?
At this point we are only doing about one animal per week, we kind of operate at the fringe of animal rescue by focusing on exotic canids so we do not get too much traffic. That being said, if we can get 501C3 status, we can communicate directly with municipal animal shelters rather than utilising other rescue groups to save exotic canids from euthanasia. At this point, if a wolf or wolf hybrid ends up at a municipal shelter, I have to ask a 501c3 rescue to put their name on it so we can pull the animal. Municipal animal shelters will not release exotics to just anybody, it has to be an approved rescue organisation with 501C3 status. At this point, our facilities are approved by the state and county for rescue and foster operations, but we need to take that last step...

Thanks for any input...

It is what it is...
Posted 01/13/2011 04:09AM | Edited 01/13/2011 04:12AM #1
We have a foundation, and I have helped some non-profits and 501c3's form. You will have about 1-2k in legal fee's typically to set it up. You also have to basically submit information to the IRS justifying your application to treat your corporation as a 501c3, which takes up to 6 months for the IRS to approve or deny. Your state will accept the IRS' blessing, but your status as a 501c3 corporation is not guaranteed. Your attorney will guide you on how to write up the info to maximize your chances of approval. My understanding is that the corporation must be formed prior to the application, which really sucks if they deny you 501c3 status.

Remember, it's still a corporation with filing requirements, etc. In addition, your 501c3 is not "yours", it is the publics in the eyes of the government, which restrict how you run it.

Just some quick thoughts. Hope this helps. Sounds like a very worthy project "in the publics interest".

Good luck,

Russ

PS I'm no attorney so this is my experience to the best of my recollection, and is not "legal advice"