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I will advise you again -

UNLESS you have received your Letter of Determination (Form 1045) from the IRS granting you 501(c)(3) status -

You are NOT a legal not-for-profit - no matter what...

And make sure you file your 990 timely and accurately and have it prepared by a CPA or some other registered agent (at the very least) -

There is a reason our brain trust here on BB&B steered...

I will ask you again -

Have you got the letter from the IRS that OFFICALLY bestows the 503c status upon the corporation -

IF you have NOT -

You are not a NOT FOR PROFIT and can not...

Yep - and these kids don't have what it takes to qualify for that exemption....:)

Ford - truthfully - if I were giving guidance and advice - I would tell ya'll to operate as an LLC - and NET OUT...

All I can say is that it is VERY HARD to get the IRS to give you not for profit status -

You can form the corporation and have the paper work in hand but until Uncle Sam gives his blessing it is...