organizing a rally
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Outstanding HDF Member
Joined: Feb 2008
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From: wisconsin
organizing a rally
i was thinking of organizing a rally. the wife may be inhareting some $$ and thought i would like to start one and raise money for the local humane society. maybe joan jett as a band and a 2 others to open. i have an idea on a bar with 18 acres that would be a good start. any help woul be great..
Road Warrior
Joined: Nov 2008
Posts: 1,775
Likes: 6
From: Simpson County Kentucky
Get yourself registered as a 501C3. The 501C3 exemptions apply to corporations as well as any community chest, fund or foundation that is organized and operated exclusively for any religious, charitable or scientific testing for public safety. The 501C3 also covers literary and educational issues and covers non-profit organizations or foundations for the prevention of cruelty to children or animals. This will allow folks to write off any donations they may give to you as a benefit for your cause and a very good cause it is.
Outstanding HDF Member
Joined: Apr 2007
Posts: 2,762
Likes: 22
From: right down from the FloraBama
If you are absolutely committed to doing this, find an event in your area and volunteer to help, get on the board and learn before doing.
If you intend on giving the money to a charity, partner with the charity of your choice. Non-profits are always looking for ways to raise more money.
Not all charities or non-profits have 501(c)(3) status. To be granted 501(c)(3) status, you have to petition the IRS on behalf of your organization and they send you a letter saying yes or no. You can use the legitimate charity's 501(c)(3) status for tax deductible contributions.
501(c)(3) status is an IRS tax status and does not necessarily exempt you from State taxes. Check with your State government about it's laws regarding fundraising, often as in Florida, several agencies have jusidiction and you generally still have to pay some taxes, such as sales tax, liquor license fees, etc.
Form your own separate management corporation for liability purposes and keep your personal money separate.
Event insurance has become very expensive in the last few years.
Find and attorney and CPA with bonafide non-profit experience.
The easiest way to make a million dollars in the promotion business is to start off with 2 million.
If you intend on giving the money to a charity, partner with the charity of your choice. Non-profits are always looking for ways to raise more money.
Not all charities or non-profits have 501(c)(3) status. To be granted 501(c)(3) status, you have to petition the IRS on behalf of your organization and they send you a letter saying yes or no. You can use the legitimate charity's 501(c)(3) status for tax deductible contributions.
501(c)(3) status is an IRS tax status and does not necessarily exempt you from State taxes. Check with your State government about it's laws regarding fundraising, often as in Florida, several agencies have jusidiction and you generally still have to pay some taxes, such as sales tax, liquor license fees, etc.
Form your own separate management corporation for liability purposes and keep your personal money separate.
Event insurance has become very expensive in the last few years.
Find and attorney and CPA with bonafide non-profit experience.
The easiest way to make a million dollars in the promotion business is to start off with 2 million.
Last edited by fishheadsaid; Dec 14, 2008 at 11:01 PM.
Road Warrior
Joined: Nov 2008
Posts: 1,775
Likes: 6
From: Simpson County Kentucky
Before you spend a lot of money on an attorney or CPA, go here:
http://www.irs.gov/publications/p557/index.html
You can also call 1-800-829-1040 but do not put in an EIN or SSN. Simply go through the prompts to Tax Law and they can advise you for free. This is a free IRS service.
http://www.irs.gov/publications/p557/index.html
You can also call 1-800-829-1040 but do not put in an EIN or SSN. Simply go through the prompts to Tax Law and they can advise you for free. This is a free IRS service.
Banned
Joined: Sep 2008
Posts: 4,862
Likes: 2
If you are absolutely committed to doing this, find an event in your area and volunteer to help, get on the board and learn before doing.
If you intend on giving the money to a charity, partner with the charity of your choice. Non-profits are always looking for ways to raise more money.
Not all charities or non-profits have 501(c)(3) status. To be granted 501(c)(3) status, you have to petition the IRS on behalf of your organization and they send you a letter saying yes or no. You can use the legitimate charity's 501(c)(3) status for tax deductible contributions.
501(c)(3) status is an IRS tax status and does not necessarily exempt you from State taxes. Check with your State government about it's laws regarding fundraising, often as in Florida, several agencies have jusidiction and you generally still have to pay some taxes, such as sales tax, liquor license fees, etc.
Form your own separate management corporation for liability purposes and keep your personal money separate.
Event insurance has become very expensive in the last few years.
Find and attorney and CPA with bonafide non-profit experience.
The easiest way to make a million dollars in the promotion business is to start off with 2 million.
If you intend on giving the money to a charity, partner with the charity of your choice. Non-profits are always looking for ways to raise more money.
Not all charities or non-profits have 501(c)(3) status. To be granted 501(c)(3) status, you have to petition the IRS on behalf of your organization and they send you a letter saying yes or no. You can use the legitimate charity's 501(c)(3) status for tax deductible contributions.
501(c)(3) status is an IRS tax status and does not necessarily exempt you from State taxes. Check with your State government about it's laws regarding fundraising, often as in Florida, several agencies have jusidiction and you generally still have to pay some taxes, such as sales tax, liquor license fees, etc.
Form your own separate management corporation for liability purposes and keep your personal money separate.
Event insurance has become very expensive in the last few years.
Find and attorney and CPA with bonafide non-profit experience.
The easiest way to make a million dollars in the promotion business is to start off with 2 million.
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