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Setting up a nonprofit and obtaining 501(c)(3) tax-exempt status is a multi-step process that can take months. Smaller organizations may qualify for the streamlined Form 1023-EZ, with approval in as little as four to six weeks, while others face an eight to ten-month wait. While the application is pending, nonprofits can operate as tax-exempt, but donors should be informed that contributions may not be deductible if the exemption is denied.

Signing a Letter of Intent (LOI) to sell a business is just the beginning—due diligence follows, and unprepared sellers risk delays or deal breakdowns. A well-organized due diligence process strengthens buyer confidence, accelerates closing, and ensures a smoother transaction. Learn how to navigate due diligence effectively and make your business stand out.