Today I filed for an EIN – Employer Identification Number. The first thing I want to point out is that I will (hopefully) NEVER refer to this as my EIN Number. Just like a PIN, you don’t need to say “number” at the end. Unless you do actually have a Personal Identification Number Number.
But I digress. The purpose of this post is to keep you updated on one of the many legal steps a new nonprofit needs to take. Now that Project Create’s Articles of Incorporation are filed in Louisiana, I had to apply for my EIN with the IRS. There are a couple of reasons for this:
- The IRS requires all businesses that a) have employees, b) are corporations, and/or c) are nonprofit organizations to file tax returns. The EIN is the business equivalent to a Social Security Number.
- An IRS EIN is required for applying for IRS 501(c)(3) status (duh!).
Project Create is a corporation, a nonprofit, and will at the very least employ me. Therefore, an EIN is necessary.
Fortunately, applying for the EIN is most likely the easiest step in this whole shebang. This can be done online here, which means you don’t have to manually file a Form SS-4 which is awesome.
Here is some of the information you will need handy:
- Type of Business – Project Create is a corporation. There is also a sub-question asking which type of corporation.
- Why you are applying for an EIN – I am starting a new business.
- Who is the Responsible Party – I am an individual person starting this business. If there was already a company in place with a valid EIN that was starting Project Create, then that information would be entered.
- Individual Personal Information – My name and SSN.
- Business Information – Project Create’s name, address, and purpose (i.e. Art Education Organization)
That’s it! So easy, and believe it or not, its FREE!!! Stay tuned for more updates as Project Create gets closer to actually being in business and raising money!