Thread: Tax ID / Going Non Profit

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We are thinking about accepting donations this year and giving the money to a local charity (still deciding). I hear that if you do that you should get a Tax ID number....has anyone done this? Does it cost to do that? What are the pro's and cons? ...and if we do decide to go this route...how do we start?

Go to the source...

http://www.irs.gov/charities/index.html

You hsave to get approved for a 501C3 from the IRS. I have done this at my State park. It is a pain.

Is it necessary to do this?

Contact the charity and ask them. Perhaps they will just provide you with a collection box.

What wilbret said.
If you were keeping the money for yourself, you'd have to file as a nonprofit, get a board of directors, prepare your artciles of incorporation, etc. etc. etc.
What that person is implying is those who donate might want to know the TIN for their income tax deduction. Since the IRS usually doesn't request documentation for small amounts, it's kind of moot. But if someone really wants, the TIN you'll need is that of the charity you are giving the money to.