Scott's Views: Coolstreams IS an Exempt 501-c-3 Public Charity

Wednesday, March 14, 2007

Coolstreams IS an Exempt 501-c-3 Public Charity

I am pleased to (finally) be able to announce that Coolstreams has been approved as a Tax Exempt public charity under IRS section 501(c)(3). To those of you who supported us in 2005, 2006 or 2007, you may be able to claim your donations AND Membership fees as a tax deduction (See our Tax Deduction FAQ >>>, or consult your tax advisor or tax software). Thanks to our board of directors who spent many collective hours working on the application process, answering many questions, and putting together the replies to accomplish this. We will post more details, including a copy of our notice, as soon as we can.

I am also pleased to announce that we accomplished this WITHOUT significant use of your Membership fees or donations. Other than the $500 filing fee and about $200 in office supplies, postage, copying, etc., we managed to complete the entire process without incurring expensive legal fees or other significant costs. Thus, we are able to continue to put your Membership contributions and donations where you would want us to - into further developing the programing and content.

Thank you again to a few who have made extra contributions to our campaign - if you have not yet done so, and would like to make a tax deductible contribution to our efforts, see the section immediately below (or above) and follow the link from there, or click on the Members Tab on our main site.

Labels: 501(c)(3), charity, donations, membership payments, memberships, non-profit, tax deductions