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Chicago Illinois Form 1023: What You Should Know

Eligibility for grants and other support. Eligibility — For grants only. Application Fee : 200.00 A. Form, Schedule and Payment Information CITIZENS The City of Chicago, the Illinois General Assembly and the U.S. Congress recognize the importance of citizens' participation in civic action and the role that citizens can play in public policy. In Chicago there are several ways to apply for exemption as a social service organization.  You can file a complete “Form 1023” as an individual. You may also want to file Form 1023C or Section 25 and Section 501(c)(3) instead of the individual form, which will be more convenient for us. To request exemption on the Individual Form 1023, you must meet these requirements. In order to be eligible for a Section 501(c)(3) exemption from income taxes on your business income, your organization or business must meet the following minimum qualifications: 1. Operating in the United States 2. You do not pay federal income tax on income derived from your exempt activities. 3. There will be no “ordinary income” tax on dividends, capital gains, rents, royalties, fees and other income from your organization or business. 4. There is no payment to any executive officer, board member or member. 5. Your organization must have a sole member who is an individual who: (A) (i) is not a person described in section 2501(a)(1), (2), (3), (3), (5), (5), (6), (7), (22), and (27) of the Internal Revenue Code, and (ii) has not been convicted of a felony or any Federal or State offense listed in section 984(b) of the Internal Revenue Code, or of any controlled substance violation identified under such section 984(b). 6. You must have established a charitable organization and a tax-exempt status on the date of filing. 7. You must provide the same financial statements as your primary organization.   8. If you do not have an IRS tax exemption number, submit a letter to the IRS identifying your organization to receive an IRS exemption number and the appropriate fee. For a copy of Form 1024, Application for Recognition of Exemption, visit.

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