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How do I start a 527 organization?

I created http://www.blockbarack.com about 2 months ago and I’m looking into forming a 527/non-profit organization. Currently we have about 5,000 active members in the organization from all 50 states and 38 countries. Considering about 85% of our members are college students we are low on funds. We have put most of our resources into online advertising and ad campaigns. So if anyone who shares our beliefs are welcomed to join our organization. Any donations will be greatly appreciated, and can be made on the site via paypal. The facts will prevent Obama from becoming President, but seems that the majority of the media completely ignore them. Exposing the truth is sometimes unpopular but a necessity.

Because 527 organizations do not make expenditures to directly advocate the election or defeat of any candidate for federal elective office they avoid regulation by the Federal Election Commission. The line between issue advocacy and candidate advocacy is the source of heated debate and litigation.

Many 527s are run by interest groups and used to raise money to spend on issue advocacy and voter mobilization outside of the restrictions on PACs.

Examples of 527s include Americans for Dr. Rice, Americans for Honesty on Issues, Swift Boat Veterans for Truth, Texans for Truth, The Media Fund, America Coming Together, the Moveon.org Voter Fund, the Progress for America Voter Fund, United American Technologies, American Right To Life Action and the November Fund.

During April of 2004, the Federal Election Commission (FEC) held hearings to determine whether or not 527s should be regulated under campaign finance rules. The Commission ultimately decided that the law did not cover these independent 527 organizations unless they directly advocated the election or defeat of a candidate.

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