If you are getting a free tax ID ( Federal Tax ID ) to collect charitable, athletic league, religious or other not for profit organization, here is how to do this correctly.
You will need a federal ID and a formation of a non profit corporation. You can obtain both here at this site.
You can also File a DBA business name registration and obtain the federal ID obtain both here at this site.
to open a bank account to deposit the contributions.
However, all money that you don't spend or somehow you will not be able to expense and justify to the IRS , you will have to pay taxes on that amount.
For example, you received $100,000 in contributions and you spent for charitable related purposes $50,000, you will have to pay taxes as personal income taxes for the $50,000.
To avoid that and do everything legal, apply here for the free federal ID, and the Nonprofit formation of the corporation.
As soon as you obtain these, apply for your organizations tax exempt status so you will not have to pay taxes on the contributions you receive.