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FREQUENTLY ASKED QUESTIONS1. How can you legally furnish a non profit status, I thought the IRS could only do this? The IRS allows our Institute to subordinate non profits through a group exemption status. You will be furnished a copy of the letter of authorization from IRS with your charter certificate. 2. How can you process and guarantee my non profit status so quickly? Our group has taken the time to present and receive group status through the IRS. Also we have paid the group status fee of $l000.00. 3. What is the difference in cost going through your organization and going directly to the IRS for non-profit status? IRS charges you $475.00 one time fee. Our group charges $l60 one time fee. Our group status guarantees you a non profit status once you pay and apply for group status. IRS can turn you down and if they do they keep your $475.00. 4. If I file for non profit status directly with the IRS , is there any other charges that could occur? Yes, you usually will hire a CPA or a Tax Attorney to do the application process properly. This is an added cost to you. 5. Do I have the same privileges under a group status as I would under my own status? Sure, you have the same privileges, in fact you answer directly to all state and governmental agencies just as you would with your own status. You submit a copy of your yearly financial records so we can compile them for our records. We hire a CPA, and this is the reason for the monthly charge of $30.00. 6. May I apply for grants that come directly to my non profit status under your group exemption? Sure, instantly. Also, remember you file your own 990 form at the end of each year directly to the IRS and a copy to us. This has to be done before May 1 each year. 7. What other advantages are there to becoming a non profit status under your group exemption? Our group status is not to sell you non profit status to make money, we are here to edify the church through educational , internship , and evangelist outreach programs. We network letting you know when there are supplies, food, and other products available to assist your ministry in growth. We also conduct free seminars to assist you in grant writing as you set those up in your area. You can find several agencies supplying non profit status, we offer so much more in support for your new calling of God. 8. How long has your ministry been in existence? We have been in the ministry located in Conyers Georgia since 1991. 9. Have you ever received a grant through your non profit status? Yes, we have received five grants from the Robert Wood Foundation for our Senior Adult & Disabled division, Earth Care Ministry. 10. What if I decide to drop my group status in the future? You simply write us a letter and we notify the IRS that you are no longer under our group status. At this time you can no longer accept donations and give legitimate write-offs for their donations. |
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Copyright © 1999 - 2008 Exegetical Institute, Inc. - All Rights Reserved |
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Exegetical Institute
PO Box 1165
Kingsland, GA 31548
1-888-764-0731