Licensed or ordained ministers may desire to be chartered under IFM. We are legally able to provide IRS 501c3 status for churches and ministries that would like to obtain this status under our covering. To be eligible for an IFM Charter, an IFM member must first register their ministry name and become a non-profit corporation in his/her state.
The application process includes appropriate paperwork for our records and the necessary IRS paperwork that is required for consideration of charter status. We provide sample forms from other ministries who are chartered under IFM to help applicants fill out all the necessary forms. Normally this application process takes about 3-4 months.
When the application process is complete, the IRS is notified and the member receives their Certificate of Charter. The chartered member can now legally give out tax receipts for donations given to their ministry, according to the rules governing 501c3 organizations. There is really no need for a person to receive a charter if they are not receiving funds or donations.
Charter members are required to submit a ministry report annually describing their work over the previous year. They also submit an annual financial report that is reviewed by the IFM Office staff.