Form 1024 - Application For Recognition Of Exemption Under Section 501(A) Page 4
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25Line 8. Type of organization and
Line 3b.—The annual compensation includes
If the date of this application is less than 60
organizational documents.—
salary, bonus, and any other form of payment
days after the first day of the current
to the individual for services performed for
accounting period, no financial information is
Organizing instrument.—Submit a
the organization.
required for the current year.
conformed copy of the organizing instrument.
If the organization does not have an
Line 4.—If your organization’s activities were
Financial information is required for the 3
organizing instrument, it will not qualify for
formerly performed under another name or if
preceding years regardless of the current year
exempt status.
your organization was a part of another
requirements.
organization (tax-exempt or nonexempt),
A conformed copy is one that agrees with
Note that if no financial information is
furnish the requested information. Otherwise,
the original and all amendments to it. The
required for the current year, the preceding
indicate “N/A.”
conformed copy may be:
year’s financial information can end on any
Line 5.—Indicate your organization’s current
day that is within 60 days of the date of this
A photocopy of the original signed and
or planned connection with any tax-exempt
application.
dated organizing document, OR
or nonexempt organization.
Prepare the statements using the method
A copy of the organizing document that is
Line 6.—If your organization has issued stock
of accounting and the accounting period the
unsigned but is sent with a written
as a means of indicating ownership by its
organization uses in keeping its books and
declaration, signed by an authorized
members or others, furnish the requested
records.
individual, that states that the copy is a
information. Otherwise, indicate “N/A.”
complete and accurate copy of the original
If the organization uses a method other
signed and dated document.
Line 7.—If your organization is a membership
than the cash receipts and disbursements
organization, furnish the requested
method, attach a statement explaining the
Corporation.—In the case of a corporation, a
information. Otherwise, indicate “N/A.”
method used.
copy of the articles of incorporation,
approved and dated by an appropriate state
Line 8.—If your organization should cease
A. Statement of Revenue and
official, is sufficient by itself.
operations as a tax-exempt organization,
Expenses
explain to whom its assets will be distributed.
If an unsigned copy of the articles of
Line 1.—Include amounts received from the
incorporation is submitted, it must be
Line 9.—Indicate if the organization
members that represent the annual dues and
accompanied by the written declaration
distributes, or plans to distribute, any of its
any special assessments or initiation fees.
discussed above.
property or funds (such as a distribution of
profits) to its shareholders or members.
Line 2.—Do not include amounts received
Signed or unsigned copies of the articles of
from the general public or a governmental
incorporation must be accompanied by a
Line 10.—Indicate if the organization
unit for the exercise or performance of the
declaration stating that the original copy of
performs any services for any other
organization’s exempt function.
the articles was filed with and approved by
organization or individual for which it is paid a
the state. The date filed must be specified.
fee.
Line 3.—Examples of such income include:
the income derived by a social club from the
Unincorporated association.—In the case of
Line 11.—Do not include the normal salary of
sale of food or beverage to its members; the
an unincorporated association, the conformed
officers or employees.
sale of burial lots by a cemetery association;
copy of the constitution, articles of
Line 12.—Answer “Yes,” if the organization
and fees charged by a social welfare
association, or other organizing document
either provides insurance through a third
organization or trade association for an
must indicate in the document itself, or in a
party or provides the insurance itself.
educational seminar it conducted.
written declaration, that the organization was
Line 13.—Examples of public regulatory
formed by the adoption of the document by
Line 4.—Enter the organization’s gross
bodies are: HUD, HHS, Public Utilities
two or more persons.
income from activities that are regularly
Commission, Housing Commission, and a
carried on and not related to the
Bylaws.—If the organization has adopted
state insurance commission.
organization’s exempt purposes.
bylaws, include a current copy. The bylaws
Line 14.—Provide the specified information
need not be signed if submitted as an
Examples of such income include: fees
about leased property whether it is used for
attachment to the Form 1024 application. The
from the commercial testing of products;
exempt functions or for other purposes.
bylaws of an organization alone are not an
income from renting office equipment or other
Line 15.—Provide the specified information
organizing instrument. They are merely the
personal property; and income from the sale
about political expenditures whether they
internal rules and regulations of the
of advertising in an exempt organization
were made to support or to oppose particular
organization.
periodical. See Pub. 598 for information about
candidates.
unrelated business income and activities.
Trust.—In the case of a trust, a copy of the
Line 16.—This includes any printed material
signed and dated trust instrument must be
Line 5.—Attach a schedule showing the
that may be used to publicize the
furnished.
description of each asset, the name of the
organization’s activities, or as an informational
person to whom sold, and the amount
item to members or potential members.
Part II. Activities and
received. In the case of publicly traded
Operational Information
securities sold through a broker, the name of
Part III. Financial Data
the purchaser is not required.
Line 1.—It is important that you report all
The Statement of Revenue and Expenses
Line 6.—Include on this line the income
activities carried on by the organization to
must be completed for the current year and
received from dividends, interest, payments
enable the IRS to make a proper
each of the 3 years immediately before it (or
received on securities loans (as defined in
determination of the organization’s exempt
the years the organization has existed, if less
section 512(a)(5)), rents, and royalties.
status.
than 4).
Line 7.—Enter the total income from all
It is also important that you provide
Any applicant that has existed for less
sources that is not reported on lines 1
detailed information about the nature and
than 1 year must give financial data for the
through 6. Include, for example, income from
purpose of each of the activities. The
current year and proposed budgets for the
special events such as raffles and dances
organization will be contacted for such
following 2 years.
that is not taxable as unrelated business
information if it is not furnished.
Any applicant that has been in existence
income. Attach a schedule that lists each
Line 2.— If it is anticipated that the
more than 1 year but seeks recognition of
type of revenue source and the amount
organization’s principal sources of support
exemption only for the current year and future
derived from each.
will increase or decrease substantially in
years (rather than from the date of its
Line 9.—Enter the expenses directly related
relation to the organization’s total support,
formation), should give financial data for the
to the income sources reported on line 3 of
attach a statement describing anticipated
current year and proposed budgets for the
this part.
changes and explaining the basis for the
following 2 years.
Line 10.—Enter the expenses directly related
expectation.
We may request financial data for more
to the income sources reported on line 4 of
Line 3a.—Furnish the mailing addresses of
than 4 years if necessary.
this part.
the organization’s principal officers, directors,
All financial information for the current year
Line 11.—Attach a schedule showing the
or trustees. Do not give the address of the
must cover the period beginning on the first
name of the recipient, a brief description of
organization.
day of the organization’s established annual
the purposes or conditions of payment, and
accounting period and ending on any day
the amount paid.
that is within 60 days of the date of this
Page 3
application.
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