[Lswtalk] Issues found while working on bylaws

[Charlotte Trosclair]

Erin, 
What you found is correct. We have to do so with our foundation and we had
to reestablish the foundation's 501c3 with the secretary of state. I believe
the fee to be reinstated was under a $100.00. If you call the secretary of
state they will send you the form. Really simple to do. Form 990 will have
to be filed annually if you make under a certain amount; sorry I don't
recall the amount. It's not a hard process, just a little costly.

Charlotte Trosclair, Director
Vermilion Parish Library
405 East Saint Victor St.
Abbeville, LA 70510
337-893-2674
Fax: 337-898-0526
ctrosclair at vermilion.lib.la.us

-----Original Message-----
From: lswtalk-bounces at beau.org [mailto:lswtalk-bounces at beau.org] On Behalf
Of Erin Chesnutt
Sent: Tuesday, May 20, 2014 7:10 PM
To: lswtalk at beau.org
Subject: [Lswtalk] Issues found while working on bylaws

All,
I got in touch with Rob who, among other things, told me that 501c(3)
organizations are required to file an annual information return. Failure to
do so for 3 consecutive years results in immediate revocation of
501(c)(3) status.

I did a little digging based on this and found that our organization would
be required to annually file Form 990-N which is an e-postcard, according to
the IRS's description. More info on that here :
http://www.irs.gov/Charities-&-Non-Profits/Annual-Electronic-Filing-Requirem
ent-for-Small-Exempt-Organizations-Form-990-N-%28e-Postcard%29

I used the Exempt Organization Select Check tool from IRS to see if we are
still listed as a tax-exempt organization; I don't see our name on their
list.  I also don't see our name on the revoked list, but I think that
database only covers the past x years.

Has someone been filing this and I'm just looking in the wrong places?

If our status has, indeed, been revoked, then we seem to be looking at
filing another form and paying a user fee to get reinstated. I believe our
annual gross receipts from the past 4 years falls under $10,000. If so, the
user fee would be $400. If not, it looks like it would be $850.  More on
that here:
http://www.irs.gov/Charities-&-Non-Profits/Reinstatement-of-Tax-Exempt-Statu
s-after-Automatic-Revocation.

It seems to me that if we want to move forward with granting a scholarship,
we need to get this in order sooner rather than later. It feels hinky (nice
word, yes?) to me, otherwise.



Thank you,

Erin N Chesnutt, MLIS
Director
Beauregard Parish Library

337-463-6217
echesnut at beau.org

_______________________________________________
Lswtalk mailing list
Lswtalk at beau.org
http://beau.org/mailman/listinfo/lswtalk