Step-By-Step Process
2. Step 2: Gather Required Documentation
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When starting the process of becoming a 501(c)(3) as a neighborhood association, gathering the necessary documentation is a crucial step. The IRS requires specific documents to be submitted in order to obtain tax-exempt status. Some of the key documentation that you will need to gather includes the association's articles of incorporation, bylaws, financial statements, and a completed Form 1023 application.1
It is important to ensure that all documentation is accurate, complete, and organized before submitting it to the IRS. Make sure to review the requirements outlined in the IRS Form 1023 instructions to avoid any delays in the application process. Keep copies of all documentation for your records and be prepared to provide additional information or documentation if requested by the IRS.
1. Internal Revenue Service, “Form 1023: Required Attachment to Form 1023,” IRS, November 8, 2024, https://www.irs.gov/charities-non-profits/form-1023-required-attachment-to-form-1023, 1.