Such a fund must itself meet the requirements of section 501 (c) (3) and the related notice requirements of section 508 (a). I'm not sure whether to go 501c(4) or 501(c)5. The cookie is used to store the user consent for the cookies in the category "Performance". We offer scholarships to encourage women to enter construction careers. They may be deductible as trade or business expenses if ordinary and necessary in the conduct of the taxpayers business. Im on hold with the IRS waiting to speak with someone. If youre still considering a donation, contact the organization and ask them to email you a copy of the IRS letter recognizing its tax-exempt status. This is not a simple yes or no answer, as the situation may need to be assessed to determine if the 501(c)(3) entity even still qualifies for exempt status as a 501(c)(7). We have been operating an adult vintage base ball club for three years and have not registered with the IRS because our annual earnings are far below $5,000. How much of a donation to a 501c3 is tax deductible? In reading IRS Publication 557 (rev Oct 2010) I note on page 21 that our organization could establish a separate 501c3 fund specifically for education purposes that would then be eligible for some low cost services for providing additional educational opportunities to our members that we are unable to qualify for as a 501c6. The only status that will allow for tax deductible donations is 501c3. Can a college fraternity that does not operate a chapter (frat) house qualify for 501(c)(7) tax-exempt status? Unlikely, but you can check with your department of revenue/taxation. Then there was a merge of locals. (we would like to provide fire safety and prevention programs, seek out community partnerships to raise funds for other nonprofits, and fund specialized training for our firefighters where city government funding falls short). If you donate cash to the university,your deduction is simple: deduct the amount that you gave. Also, I was told I Would need to prepare 3 years of financial statements which will be a huge process since the only records I have for the years before I took over are basically bank statements. Is it legal to limit our scholarships to women only? Also, as our clubs functions necessarily involve alcoholic beverages, does the not-for-profit status help (or hurt) us in any with regards to liability issues, etc?

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