|
Grex > Coop10 > #122: Taxes and our new 501(c)3 status |  |
|
| Author |
Message |
| 25 new of 49 responses total. |
aruba
|
|
response 25 of 49:
| 
Apr 13 23:56 UTC 1999 |
Ameritech has finally set up our account so that we don't pay state taxes.
We're still wating on the federal taxes (they've forwarded it to some special
division of Ameritech). After that's resolved, we should get a refund on the
last two years worth of taxes that we paid.
|
lilmo
|
|
response 26 of 49:
|
Apr 15 21:58 UTC 1999 |
That month's financial report should look pretty good. :-)
|
aruba
|
|
response 27 of 49:
|
Apr 15 23:32 UTC 1999 |
Yup. :)
|
aruba
|
|
response 28 of 49:
|
Apr 29 04:25 UTC 1999 |
Woo hoo! We are set. Not only do we not have to pay state taxes from now on,
but Ameritech is crediting us $970.27 for the taxes we paid over the past 4
years.
|
other
|
|
response 29 of 49:
|
Apr 29 05:10 UTC 1999 |
don't start the celebration until the credit is realized..
|
mary
|
|
response 30 of 49:
|
Apr 29 11:25 UTC 1999 |
Wow! Thanks for *all* of your work on this, Mark.
|
mary
|
|
response 31 of 49:
|
Apr 29 11:26 UTC 1999 |
And thank you, once again, to Jan for his work on the
501(c)3.
|
remmers
|
|
response 32 of 49:
|
Apr 29 11:41 UTC 1999 |
Very nice job, Mark. Thanks much.
|
aruba
|
|
response 33 of 49:
|
Apr 29 14:47 UTC 1999 |
Indeed - Jan and Lucie at Ameritech deserve most of the credit.
|
albaugh
|
|
response 34 of 49:
|
Apr 29 16:25 UTC 1999 |
Aw, what the heck, give 'em 10%! ;-)
|
davel
|
|
response 35 of 49:
|
Apr 29 17:42 UTC 1999 |
Thanks, Mark & Jan. For our budget this is a big amount.
The 501(c)3 application had mostly been going nowhere for years & years, until
Jan took it on. It's making a very noticeable difference.
|
lilmo
|
|
response 36 of 49:
|
Apr 30 21:23 UTC 1999 |
*applause*
Encore! Encore!
|
dpc
|
|
response 37 of 49:
|
May 3 16:00 UTC 1999 |
Hooray!!
|
lilmo
|
|
response 38 of 49:
|
May 12 01:41 UTC 1999 |
How will we top this?
|
aruba
|
|
response 39 of 49:
|
May 13 18:00 UTC 1999 |
OK, the credit for $970.27 appeared on this month's phone bill, so we won't
have to pay anything for May and June, and only a bit for July.
|
scott
|
|
response 40 of 49:
|
May 13 19:53 UTC 1999 |
Wow! I'm happy to see it actually happened, given it was Ameritech we were
dealing with.
|
keesan
|
|
response 41 of 49:
|
May 14 15:14 UTC 1999 |
Ameritech told me Kiwanis was not eligible for any retroactive tax refunds,
is this correct? Kiwanis has been non-profit for a long time but did not know
a tax reduction was possible.
Mark, congratulations!
|
i
|
|
response 42 of 49:
|
May 15 03:10 UTC 1999 |
There's several different kinds of non-profit that the local Kiwanis Club
could be. Grex gets out of several taxes because of its 501(c)(3) status
- which is a relatively rare and hard-to-get status for a local service
club.
|
aruba
|
|
response 43 of 49:
|
May 19 01:47 UTC 1999 |
Yeah, that would be my question - is Kiwanis a 501(c)3 organization? The
woman I spoke with at Ameritech arranged for us to get a refund for the last 4
years worth of taxes.
|
rcurl
|
|
response 44 of 49:
|
May 19 05:05 UTC 1999 |
It is not supported by public donations but by sales, so I don't think it
can be a 501(c)3 organization also qualifying under 509(a)1 (that's
the full charitable publicly supported organization). In particular, it
could not meet the 1/3 rule (and the 10% rule would not apply).
|
keesan
|
|
response 45 of 49:
|
May 19 13:27 UTC 1999 |
Jim says Kiwanis is supported by sales, donations and fund raisers. The sale
is one of the fund raisers, and what is sold is donated items. Without the
donations there would be no income. We will see what happens.
There is a social club supported by membership dues, and a foundation
supported by donations. The phones are used by the foundation to help in
gathering donations and converting them to cash.
|
rcurl
|
|
response 46 of 49:
|
May 19 17:56 UTC 1999 |
Ask the administer for the tax exempt status of Kiwanis. This is pretty
complex stuff, and one must toe the line on lots of aspects of donations,
sales, and activities supported thereby.
|
mdw
|
|
response 47 of 49:
|
May 20 01:10 UTC 1999 |
There are lots of things Kiwanis could be. It could be a "civic league",
for instance. You actually want to know both the legal status of Kiwanis
(ie, how it's incorporated, which has 2 parts: the incorporation papers,
and the state law it hooks into), and any special status granted to Kiwanis
by the government, such as the IRS might do.
|
keesan
|
|
response 48 of 49:
|
May 20 22:27 UTC 1999 |
I am hoping the secretary can handle this. We have to charge sales tax but
do not pay it.
|
janc
|
|
response 49 of 49:
|
May 22 20:18 UTC 1999 |
Cool. Considering that applying for 501c3 cost us only $150, plus some
time, a $970 tax rebate is a rather nice pay off.
|