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(meteorobs) Tax status of groups
Kevin et al -
I had commented on:
>more organized methods such as ... getting your group set up as a registered
charity, such that donations to that group would give the recipient a tax break
(don't know your U.S. rules on this, perhaps the AMS already has that status??)
and you replied:
>I'll look into the procedure for getting NAMN into a non-profit tax exempt org
status. This way, as Cathy said, this way anyone who donates can receive a tax
break.
Kevin, be <very> careful checking out the specs for this. As I said, I have no
idea what the U.S. rules and regs are on this. I <don't> know if an
organization in the States has to be incorporated before it can qualify to apply
for non-profit status. I <don't> know if U.S. non-profit status is the same as
charitable status.
Just because that status exists DOES NOT necessarily mean it is a good thing for
a particular group - depending on the size of that group, its aims, and how
independent it wishes to be. Up here in Canada, to have status as a registered
charity means government paperwork, special tax returns, etc. And, there is a
qualification here, that a certain percentage of actual income for a group each
year be spent on public education.... and the government has the final word on
whether they think your description of 'public education' is 'public' enough for
them ...
So, inquire very carefully. My own personal opinion, going by past experience
in Canada, is that this sort of thing could be very beneficial to the AMS
(judging by what I've heard on this list), but that, at this time, NAMN would be
<much> better off staying independent, and doing more casual fund-raising if
desired.
- Cathy
(in past lives... treasurer of several groups!)
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