Urbana-Champaign Independent Media Center: newswire/1155

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Urbana-Champaign IMC receives federal non-profit status.	Current rating: 0
by Sascha Meinrath & Sarah Kanouse, Urbana-Champ Email: meinrath (nospam) urbana.indymedia.org (unverified!) Phone: (217) 384-5346	13 Jun 2001 Modified: 09:46:27 PM
The Urbana-Champaign Independent Media Center Foundation (UCIMC) received notice today, June 13, 2001, that we were granted official federal 501(c)(3) [non-profit] status. According to our notification letter, "Based on information you supplied, and assuming your operations will be as stated in your application for recognition of exemption, we have determined you are exempt from federal income tax under section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3)."
The Urbana-Champaign Independent Media Center Foundation (UCIMC) received notice today, June 13, 2001, that we were granted official federal 501(c)(3) [non-profit] status. According to our notification letter, "Based on information you supplied, and assuming your operations will be as stated in your application for recognition of exemption, we have determined you are exempt from federal income tax under section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3)." This initial ruling, which will be reviewed after December 31, 2004 makes it possible for donors to deduct contributions to the UCIMC on their tax returns (retroactive to November 30, 2000), as described in section 170 of the Internal Revenue Code. Bequests, legacies, devises, transfers, or gifts to the UCIMC of for UCIMC use are deductible for Federal estate and gift tax purposes if they meet the application provisions of sections 2055, 2106, and 2522 of the Code. Sarah Kanouse, Sascha Meinrath, and Paul Riismandel all contributed to this 6-month long effort. Our initial 50-page application and the 30-page answer to clarifying questions posed by the IRS are available at the UCIMC's community center (218 West Main Street, Suite 110; Urbana, IL 61801). Copies of our initial application, clarifying questions, notification letter, and supporting materials will be placed on our website: http://urbana.indymedia.org/ . Further questions concerning the Urbana-Champaign Independent Media Center Foundation, please send us an e-mail at: info (at) urbana.indymedia.org - for questions about donating to the UCIMC, please contact our treasurer at fundraising (at) urbana.indymedia.org.
See also: http://urbana.indymedia.org/

Comments

The club
by greg (No verified email address)	Current rating: 0 28 Jun 2001
Well, not that indy could do anything about it, but doesn't this basically say to the feds: "OK you have a club you can beat us up with, we'll be good cause we understand you have a right to beat us up with it if we misbehave". The moment Indy steps out of line, whoops there goes your tax exempt status, then pretty soon you are integrated into the system just like all the other non-profits and churches.