[Lswtalk] Issues found while working on bylaws

[Howard L. Coy Jr.]

Jessica, you have and are doing a terrific job. This is not your fault. It
is confusing, and I think (conspiracy theory #4552) they want it to be.
Easier to entrap and secure their jobs. None of this junk should be this
difficult, our pioneers are spinning in their graves! I appreciate you for
your willingness to help make this right, and Erin for digging into the
matter. I don't think any of us realized how complicated it was. If you ask
4 IRS workers a question, you will get 12 answers, none of them correct!

Howard


On Wed, May 21, 2014 at 9:59 AM, Jessica Hutchings
<jhutchings at mcneese.edu>wrote:

> Hey everyone,
>
> I'm glad that we're looking at this issue, because I find it to be very
> confusing. I have not been filing this postcard. A few years ago when I was
> a new treasurer, I met with an accountant about how to file taxes. She
> explained to me that because we take in less than $50K a year, we did not
> need to file. To the best of my memory, she did not mention that I needed
> to submit a postcard. She and I did not have a long conversation, and I
> didn't know enough at the time to ask questions about 501(c)(3)
> organizations.
>
> When I became treasurer, I didn't really have any guidelines or
> instructions. I received a big box of papers, so I did my best to organize
> everything and move forward. I went through my Libraries Southwest drawer
> this morning, and I am still not seeing any paperwork related to 501(c)(3)
> organizations. I did not see anything tax-related, other than some interest
> statements that we receive annually from our savings account. My drawer of
> Libraries Southwest stuff goes back to about 1997. It's mostly a mix of LSW
> Registration and Author Dinner paperwork.
>
> Thank you for your research, Erin and Beverly. Let me know what you think
> I need to do next. Yes, our receipts from the last 4 years are less than
> $10K. I am so sorry that I have not kept up with this properly, and I am
> looking forward to getting everything straight.
>
> Thank you,
>
> Jessica
>
>
>
>
>
>
>
>
> ----- Original Message -----
> From: "Erin Chesnutt" <echesnut at beau.org>
> To: lswtalk at beau.org
> Sent: Tuesday, May 20, 2014 7:10:10 PM
> 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-Requirement-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-Status-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
>
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>
> --
> Jessica Hutchings
> Assistant Professor/Head of Reference
> Frazar Memorial Library
> McNeese State University
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