(334) 676-2525 - 2525 E. S. Blvd Montgomery, AL - 36116
Ministry Of Economic Development - THE GOSPEL of Self Help
Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you. And surely I am with you always, to the very end of the age ~ Matthew 28:19-20
BISHOP William D. Paul PhD - Integrated Auxiliary - Form 990 - AND MORE !!!
Types of Business
Profit Corporation (Protection)
C. Corporation (Double Taxation)
S. Corporation (Single Taxation By Shareholders)
LLC. Corporation (Single Taxation By Members)
Non- Profit Corporation (Protection)
Religious Benefit (Automatically Tax- Exempt)
Mutual Benefit (Similar To C. Corp. Double Taxation)
Public Benefit ( Complete IRS 1023 To Be Tax-Exempt)
501 (c)(3) Q & A
1. Q. What is a Corporation?
A. A corporation is an artificial person or legal entity who is incorporated in the state and who is authorized to transact business in the state. No one else may have its name. It can borrow, sue and file bankruptcy in it’s name.
2. Q. What are Board of Directors?
A. The Board of Directors are the policy makers for the corporation. They cannot be sued, indicted, arrested or sentenced for any illegal act of the corporation.
3. Q. What does 501(c)(3) mean?
A. 501(c)(3) means; no taxes, and you can receive contributions and grants.
4. Q. What are grants?
A. Grants are free money that you don’t pay back.
5. Q. Are churches and ministries automatically tax exempt?
A. Churches are automatically tax exempt, and need not to file taxes nor report to the IRS.
B. Churches must establish a separate 501(c)(3) in order to be eligible for 100% of grants.
6. Q. Are churches eligible for grants?
A. Without the Public Benefit 501(c)(3), churches are ineligible for 98% of grants
7. Q. Can I receive a grant from governmental agencies without a 501(c)(3)?
A. Organizations must have a 501(c)(3) to obtain grants from governmental agencies and the private sector.
501(c)(3) Public Benefit
You are considered 501(c)(3) tax exempt effective the date of incorporation.