22 May 2008
William Morris Society Attains Tax-Exempt Status
It's not every day that one opens a letter from the Internal Revenue Service which begins: "We are pleased . . .." After much work and the help of two lawyers (one of them our member, David Lowden, who helped pro bono. Thanks, David!) the William Morris Society in the United States has been granted tax-exempt status under section 501 (c) 3 of the Internal Revenue Code. This means that gifts (financial and in-kind) to the society and dues may be deducted from income tax up the amount allowed by law. It also allows the society to escape paying sales tax on the purchase of goods and services—such a printing—and, not to put too fine a point on it, gives us a certain pride and prestige. The change in status will reqiore additional accounting records, also a yearly filing with the IRS (the first one goes out next week), but the benefits will surely outweigh the chores. We of course will welcome any and all contributions, especially those directed towards the society's fellowship program.
Labels: William Morris Society