[OKDXA] Fw: Attention Club Officers

Tue May 4 18:32:31 EDT 2010

Hi Jerry and all,

Just a little info from a club that has done it, an FYI for the future.  We 
worked on this for
years well over 20 years on and off!  Long story while it took so long, many
CPA's and attorney's came and went while working on this.  Finally one
member of our local group bulldog it and got it done.  However after all the
effort was it worth it?  I would say no.  All the promises of donations,
etc, have yet to materialize.  It leaves the club open to a a lot of legal
hassles I am sure is not worth it in the long run.  I once talked with a
good friend that had done a lot of 501 applications for clubs.  His info was
very few qualify for C3, most would qualify for C7.  It also depends on
income.

73 de jay/w5jay..

--------------------------------------------------
From: <k5yaa at okdxa.org>
Sent: Tuesday, May 04, 2010 4:26 PM
To: <RHunt at tulsacc.edu>; <okdxa at mailman.qth.net>
Subject: Re: [OKDXA] Fw: Attention Club Officers

> Ross et al:
>
> Some yeras ago we looked at a 501 arrangement and at the time it was 
> deemed too much effort / potential cost.  Therefore we haven't to worry 
> with the filing etc.
>
> K5YAA
>
> <br><br><br>------- Original Message -------
> On 5/4/2010  8:27 PM  wrote:<br>More Obama care stuff.  Sorry I have been 
> out of the loop for a month or
> <br>so.
> <br>Have been under the knife for skin cancer the last few months. Glad to
> <br>hear
> <br>Judy is OK. Hope to make HamCom in July. Have a grandchile due in a 
> few
> <br>weeks in Dallas.. Anyhow, what's with thie exemption status thing, Do 
> we
> <br>need
> <br>to take action? I have a CPA that's a friend and past student of ours.
> <br>Let's have
> <br>some discussion on this topic please.
> <br>
> <br>K5RH
> <br>
> <br>
> <br>
> <br>
> <br>----- Forwarded by Ross Hunt/BusServ/tcc on 05/04/2010 03:18 PM -----
> <br>
> <br>"ARRL Members Only Web site" <memberlist at www.arrl.org>
> <br>05/04/2010 05:10 AM
> <br>
> <br>To
> <br>rhunt at tulsacc.edu
> <br>cc
> <br>
> <br>Subject
> <br>Attention Club Officers
> <br>
> <br>
> <br>
> <br>
> <br>
> <br>
> <br>---Urgent Message to All Radio Clubs---
> <br>
> <br>Changes made three years ago to the federal tax laws could cause many
> <br>radio clubs to lose their tax-exempt status this year.  To protect
> <br>themselves, clubs that are tax-exempt under Section 501(c) of the
> <br>Internal Revenue Code must file the required IRS annual returns or
> <br>reports before the deadline, which is May 15 for those with calendar
> <br>years.
> <br>
> <br>Many clubs have, at some time in the past, applied for tax-exempt
> <br>status under Section 501(c)(3) [charitable organizations], Section
> <br>501(c)(4) [civic leagues] or Section 501(c)(7) [recreational clubs].
> <br>Years ago, any club with gross receipts averaging less than $25,000 
> per
> <br>year was not required to file annual returns with the IRS.  However,
> <br>after 2006, such clubs had to file a Form 990-N, a simple ?electronic
> <br>postcard? with minimal information, by the fifteenth day of the fifth
> <br>month after the close of each fiscal year.  Some clubs may not have
> <br>been aware of this new requirement or didn?t bother to comply.  Even
> <br>those that filed in a prior year may have neglected to keep up with 
> the
> <br>required filings as officers changed from year to year.
> <br>
> <br>Section 6033(j) of the Code provides that failure to file Form 990,
> <br>990-EZ or 990-N for three consecutive years results in revocation of
> <br>tax-exempt status as of the filing due date for he third return.  That
> <br>filing date for calendar year 2009 is less than two weeks away.  If 
> you
> <br>are a club officer and are uncertain who is responsible for IRS 
> filings
> <br>or whether such filings are current, you should determine your fling
> <br>status as soon as possible and take immediate steps to file the 
> current
> <br>and any missed prior-year IRS forms.  Going forward, your club?s board
> <br>should assign the responsibility for compliance filings with a
> <br>designated officer and document that responsibility in the written
> <br>?job description? for the position so that subsequent holders of
> <br>the office are made aware of the requirements.  If you have questions
> <br>about your club?s status, you may wish to consult a CPA or other tax
> <br>advisor.
> <br>
> <br>Expect to see a notice about this issue on the web site soon.  Please
> <br>file the appropriate type Form 990 soon.  Keep your club's 501 (c)
> <br>status intact.
> <br>
> <br>--------------------------------------------------------------------
> <br>ARRL West Gulf Division
> <br>Director: David A Woolweaver, K5RAV
> <br>k5rav at arrl.org
> <br>--------------------------------------------------------------------
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