I just read yesterday that there is a similar process for churches. Churches are automatically exempt from paying taxes because of the first amendment. But if they sign up to be a 501(c)(3), then apparently they still don't have to pay taxes, but are now subject to a whole litany (no pun intended) of laws.

[EDIT] Personally this has resulted in a philosophical challenge because I was under the impression churches were being given a free ride by not paying taxes; this is not the case. They have a constitutional right to not pay taxes.