Tax Exempt Status
 

I'm my chapter treasurer and have recently taken on the task of filing for tax exempt status. This question is more directed at newer chapters because the tax laws have changed (not sure when).

I'm looking basically at 2 choices, 501c10 or 501c7. The difference is that donations to 501c10 are tax deductable (that's obviously the one I would prefer we have!). Does anyone know if they fall under 501c10 or 501c7?

I'm only going to apply for 501c10 and was kind of curious as to what my chances of getting approved after all this work?

If any of you financial advisors out there have any tips, please let me know! The majority of the form is narrative and I just want to tell them what they want to hear so that I don't have to do this again!

LHT
Kevin
MT #5
University of Central Oklahoma

I will bet that your org falls under 501c7 status (most fraternities and sororities are). Just email your HQ and they will be able to tell you whether you one way or another.

:)

(I know this beacuse I supervise 2 US collegiate chapters & their Corporations for AOII)

Do you know what the exact difference is in the nature of the organization -- in other words, why they would not approve us for 501c10?

LHT
Kevin
MT #5
University of Central Oklahoma

Anyone interested in a year long fund-raiser
 

Anyone interested in Raising funds all year for their Frat or Soror?


There is portal online that will (pay you and your organization) to shop for everyday things on the site.

We offer over 1 Million products and services in one online portal. Things like:

 HOME - (LAUNDRY, BATHROOM, KITCHEN, FURNITURE, MULTI-PURPOSE & CAR CLEANERS)
 HEALTH - (VITAMINS, SUPPLEMENTS, WEIGHT MANAGEMENT & PERFORMANCE FOODS)
 SELF - (COSMETICS, HAIR, SKIN & ORAL CARE, BATH & BODY, JEWELRY AND COLOGNES/FRAGRANCES)
 OPTIONS - (PAPER PRODUCTS & TRASH BAGS, HOSIERY, INFANT & FEMININE CARE, DRUG STORE, FOOD STORAGE, PET FOOD, BULBS-BATTERIES-FILM & TAPES, FOOD & BEVERAGES.
 FASHION & APPAREL…COFFEE, SEASONAL PRODUCTS…..TOOLS and the list goes on and on and on……

Everything you can think of that you need every day, every month, every year!....and the best is they share the profits back with your organization.

Some of the many online vendors you will be able to shop from are: OFFICE MAX, DISNEY STORE, KB TOYS, TRUE VALUE, ORVIS, WHIRLPOOL, SONY MUSIC DIRECT, FLORA GIFT, FRANKLIN COVEY, HICKORY FARMS, LENS EXPRESS, OMAHA STEAKS, IBM, TRIM ADVANTAGE, SA8, SATINQUE AND ARTISTRY and the list goes on!

Wow, sounds like Amway or something.

oooh I can really make money by BUYING FROM MYSELF!?!

If you're going to spam do it in your own thread (please).