I received $15,000 towards a business venture from two different people. We’ve incurred nearly $15,000 in expenses in 2020. We’ve since decided to launch the venture as a non profit, under a

ASAP seek local professional assistance to get this set up correctly ... a non profit has many many hoops to jump thru and should not be considered lightly.  Failure to do things properly can cost you all dearly. 

TT does not handle form 990's.  in addition for it to be a non-profit you must seek a determination letter from the IRS form 1023 or EZ. there is a fee. you should be using the services of a lawyer because there are legal documents that must be prepared and included that are outside the scope of tax returns. 

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