Exemption application: Financial data
An exemption application must include financial statements showing the organization's receipts and expenditures for the current year and the three preceding years (or for the number of years an organization existed, if less than five years). For each accounting period, the application must describe the sources of the organization's receipts and the nature of its expenditures. It must also include a balance sheet for the current year.
If an organization has not yet begun operations, or has operated for less than one year, a proposed budget for two full accounting periods and a current statement of assets and liabilities will be acceptable.