[OMS_MANAGERS] 501c(3) Costs?

[Tom Nelson]

501c3s are not required to have an annual audit.  Rather than use Legal Zoom for your paperwork, I would recommend you speak with Sherri Stuart.  She has access to forms, templates, and procedures used by numerous non-profits I forming Main Street Programs.

Tom Nelson
Economic Development Manager
City of Sherwood
22560 SW Pine Street
Sherwood, OR  97140
Phone:  503-625-4247
Cell;  503-867-5544
FAX:  503-625-5524
Email:  nelsont at sherwoodoregon.gov
Web:  www.ci.sherwood.or.us

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From: oms_managers-bounces at listsmart.osl.state.or.us [mailto:oms_managers-bounces at listsmart.osl.state.or.us] On Behalf Of Angi Ford
Sent: Thursday, July 07, 2011 4:17 PM
To: Oregon Main Street program managers
Subject: Re: [OMS_MANAGERS] 501c(3) Costs?

Hi George,

I didn't have anything to do with our 501(c)3, but I am not aware of any licensing for bookkeepers.  Every organization I have work with has had an accountant/CPA do their audit.  Often times this service has been volunteered.  Do you have any accountants/CPAs on your Board or any of your Main Street Committees?

~ Angi Ford
Sherwood Main Street
On Thu, Jul 7, 2011 at 4:08 PM, George Custer <georgecuster191 at msn.com<mailto:georgecuster191 at msn.com>> wrote:
Hello All,

We in Oakridge are hoping to apply (finally) for our own 501C(3) status. We have been operating as a program under a local Community Dev. Corp. and want to be on our own. We are a small organization with a current total budget of less than $10,000.

We plan at this time to use Legal Zoom to do the paperwork. Any comments on this? We know that we'll need general liability insurance. But do we really need the insurance for the officers? I also understand that we'll need an audit each year. By a CPA or can a licensed book keeper do the job?

Are there any other annual costs that we will need to consider?

Our community and area has around 5,000 people.

Thanks for any and all comments/help.

George Custer, President
Uptown Business & Revitalization Assoc.
P.O. Box 839
Oakridge, Oregon  97463
541-225-8484<tel:541-225-8484>



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--
Angi Ford, Sherwood Main Street
B.O.O.T.S. Coordinator
503.625.7800
www.sherwoodoldtown.com<http://www.sherwoodoldtown.com/>


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