While welcoming all verifiable US 501c tax exempts organizations and “qualifying” for-profit small business concerns, 501cFCU™s primary Members will be new, future, and pending 501c’s. They will come The 501c Federal Credit Union™ as 501cs who have joined one of the following newly forming national organizations:
- National Chamber of Tax-Exempt Small Businesses (NCTSB)™, our national chamber of startups and small staffed tax exempt entities
- Association of Tax-Exempt Startups & Entrepreneurs (ATESE)™, our closed Peer-to-Peer networking Association of/for the Founders of New, Forming & Future 501c’s
- 501c Startup & Small Business Collective (501c Startup/SmBiz)™, the LLC™s solution impact forum where stakeholders meet, ID specific problems, provide the LLC™ with desired fix so the LLC™ can design a solution that will eliminate the problem or significantly minimize the adverse impact of it
To learn more about the Impact Forum, visit https://501cStartupAndSmallBusinessCollective.org.
ENTITY CRITERIA FOR MEMBERSHIP
Applicants must be Tax-exempt organizations who are legally registered business entities with one of the following:
- The District of Columbia (DC),
- Puerto Rico (PR),
- any of the 50 US States, or
- a US Territory in Good Standing at the time of their Membership Application
This is a requirement of the IRS in order to pursue 501c status when the intent is to operate a business concern. Our requirement includes having your headquarters office on US soil.
These new business concerns are typically excluded from pursing small business assistance, not eligible to apply for MOST grant, loan and support program opportunities thrown at their for-profit siblings, and are not extended the same discount, financial or other business asset gratuities made available to existing tax-exempt entities. This occurs with equal measure whether originating from Federal Agencies and programs, State Government, Corporations, or even their own 501c Peers.
For our purposes, a 501c aligns with the IRS definition recognizing 501cs as an entity, organization, program, initiative, group, or operation, including those run, directed or controlled by for profit. We make no distinction in type of 501c. With the exception of State Charitable Registration (granting permission to fundraise once the entity is 2 yrs in), whether a 501c is a program, a meditation jazz club, social club fundraising, a company initiative, or a business concern with a variety of charitable endeavors, all 501cs start out and have the same Federal Tax ID, State Entity Registration, tax reporting, business banking compliance and other audit/regulatory obligations as do for-profit it must be adhere to in order to form then conduct their tax-exempt mission.
Unfortunately business operational functions are no different. A 501c’s ability to access discounted, fairly priced, or sometimes, ANY business assets, technical assistance service, grants, banking or other normal business resources is virtually non-existent, especially when in Startup Mode making the need for our efforts that much more of a necessity.
As such, Membership is open to Applicants who meet the eligibility criteria of an IRS recognized tax-exempt. Application Packages must include the State entity formation documents, with ALL packages being reviewed by our Audit Committee as part of the Membership Approval Process. No Exceptions.
TARGET 501cFCU™ MEMBERS
Because they face the significant hurdles and consistent exclusions, 501cFCU™ target Members (as defined by NCUA FOM) include the following:
- future 501cs no further than the early idea formation (must have Tax-ID, or TLLF will help you obtain it)
- future 501c’s at the incubator stages,
- future 501cs whose F1023/1024 applications are in progress, pending submission, under review by Internal Revenue Service (IRS) or
- new/existing 501cs who have their Determination Letter In-Hand, whether already operational or not
Community in terms of proximity as well as self-reliance is an extraordinarily important factor. As we are a national organization and resource, including local communities is a given.
As such our Locality Memberships™ welcome:
- Residents and Businesses local to the communities wherever our Podcasting Business Center (PBC)™ will be located; the PBC™ is our national 501c Startup-to-Small Business Market Exchange™ will be
- Residents and Businesses local to the communities that host our PBC™ State Branch location, and other locations within the State should the need for a PBC™ Branch location arise
For our purposes, Locality may be an immediate area, a broader region that encompasses the immediate area, it can even been isolated region such as a Peninsula, island or similarly independent area. Each locality will be determined by the support needed, with preferences given to areas with existing Organizational Members or Program Awardees are also in need of financial services.
501cFCU™ will also extend Memberships to the following Individuals, Businesses, Group Affiliations or Localities with which there is an Alliance whether thru The Learners Lab Foundation™, or its parent entity The Competence Group, LLC™:
- Founding Supporters: Individuals and US Businesses who make Direct Financial Contributions (DFC) to donate or present Letters of Commitments (LOC) to commit funds that will help launch this credit union and funds its financial service offerings thru various Capital Funding Initiatives (CFI)™ slated to begin launching shortly. As TLLF™ is fiscally sponsoring 501cFCU™, the tax deductibility of all CFI contributions will be applied to each donation within the parameters established by the IRS
- Sponsors, Partners, & Supporters: Individuals and US Businesses who either partner, sponsor or in some way functionally and/or financially support/contribute to the LLC™, TLLF™, or any of their charitable endeavors,
- Procurement Partners: Companies we do business with who are listed in 3PM™, our Federal Govt like procurement system or subscribe to CunNECT™, our master global business directory system. CunNECT™ publishes subscribers listings to every business directory in 3PM™‘s growing network of web products which serve myriad stakeholder markets in a a self-pollinating B2B pipeline
- Membership Partners: Staff and families of organizations where the LLC™, TLLF™, or any charitable entity within the Collaborative holds a Membership.
Thank you for visiting. And please be advised, this site is live but still under construction.
Thank for your patience.
The Volunteer Team from TCG LLC & TLLF-TSBC