___You understand the importance of legal counsel when applying for nonprofit status and tax-exemption
___You understand that nonprofit status is granted by the state, while the federal government grants IRS tax-exemption
___You know the three types of federally recognized nonprofit organizations are a corporation, an unincorporated organization, and a trust
___You understand that becoming a corporation is the most common choice for community organizations, because it is well understood, promotes continuity, and limits personal liability
___You know that 501(c)(3) is the "charitable tax-exemption"
___You understand that it allows exemption from federal corporate and income taxes, and that it allows solicitation of tax-deductible contributions
___You know there are a total of 26 different exemptions for different purposes
___You understand that there are three ways to become tax-exempt: application, automatic recognition, and using a fiscal conduit
___You understand the advantages of nonprofit status
___You understand the advantages of federal tax-exemption
___You understand the disadvantages of nonprofit and tax-exempt status
___You understand when you should (and when you shouldn't) consider applying for such status
___You understand how to apply for nonprofit status
___You understand how to apply for federal tax-exemption
___You know where to find inexpensive assistance