AMA club 501 c3 status, need help
08-08-2002, 03:12 AM
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AMA club 501 c3 status, need help
Hi there,
Our AMA charter club is pursuing setting up a 501 c3 status so that we can build a club owned flying site with donated funds. Is there anyone out there who has either been in a club, or knows of someone else who has been in a club that has done this? We would love not to have to re-invent the wheel on this type of groundwork.
Dan Gellner
Our AMA charter club is pursuing setting up a 501 c3 status so that we can build a club owned flying site with donated funds. Is there anyone out there who has either been in a club, or knows of someone else who has been in a club that has done this? We would love not to have to re-invent the wheel on this type of groundwork.
Dan Gellner
08-20-2002, 11:46 PM
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Tax free status
Call the IRS and ask for form 1024 package ..It tells all you need to know about a 501[a]... we are in process of the application now.. BE PATIENT IT'S the US government... Jim
08-21-2002, 03:53 PM
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AMA club 501 c3 status, need help
I'm not an expert on this, but previous threads (on other forums) have suggested that the annual reporting requirements and other restrictions placed on the use of the funds make it not worth the trouble. I can't see how your club can qualify as a charity anyway, but, hey, what do I know?
08-23-2002, 01:04 AM
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Hey thanks guys!!!
We are looking into it in hopes of making ourselves eligible for donations which can in turn be a tax write off to the donating firm or company.
Charitable.... not necessarily, but it also applies to educational organizations. We want to focus our club to training new pilots, and especially concetrate on introducing youth to modeling. We feel it can be a great anti-drug.
Interestingly, we have a letter from the AMA requesting clubs not to pursue 501c3 status, because the AMA's 501c3 was challenged by the IRS a few years back, and their thought is if it gets challenged at the club level, it could get their status in the ringer again. Pretty much a control issue.
There is a group of parents in our community that have formed one of these non-profits to build a skateboard park, so far they have received over $100k from donations because of this status.
Thanks again,
Dan
Charitable.... not necessarily, but it also applies to educational organizations. We want to focus our club to training new pilots, and especially concetrate on introducing youth to modeling. We feel it can be a great anti-drug.
Interestingly, we have a letter from the AMA requesting clubs not to pursue 501c3 status, because the AMA's 501c3 was challenged by the IRS a few years back, and their thought is if it gets challenged at the club level, it could get their status in the ringer again. Pretty much a control issue.
There is a group of parents in our community that have formed one of these non-profits to build a skateboard park, so far they have received over $100k from donations because of this status.
Thanks again,
Dan
