Article posted:
February 4, 2006
Author:
posted in:
Previous Post | Next Post
- Articles (15)
- Community News (108)
- Duluth XC Latest (96)
- Adult Education (2)
- Summer Youth Program (14)
Resources
Archive Index
Photos
Duluth XC Ski Club Becomes a 501c3
On February 6, 2006, the Duluth Cross Country Ski Club was granted 501c3 status by the Internal Revenue Service.
This is great news for our club. This means that it will be easier for us to receive cash and non-cash donations, since donors are able to deduct all or a portion of the value of their donation to the club from their taxes.
501c3 status confers several important benefits to our club:
- Cash and non-cash (including property) donations to DXC are tax-deductible.
- Lower nonprofit postage rates for mailing over 250 identical pieces of mail.
- Public service announcements on radio and TV (free but limited availability).
- DXC is partially shielded from possible negative actions by its directors and officers.
- Perpetual existence. DXC will continue, even after all current founders are gone.
- Certain government and private grants are only available to tax-exempt organizations.
- Some stores and businesses give discounts to nonprofit corporations.
- Some publications give an advertising discount to nonprofit organizations.
- Tax-exempt status is permanent. We do not have to go back and renew.
501c3 status also has a few restrictions:
- DXC may only pursue activities which further our educational, tax-exempt mission
- DXC may not cause direct financial gain to its directors, officers, or members
- DXC may not substantially engage in legislative political activities
- DXC may not participate in political campaigns for public offices
- Upon dissolution, DXC funds must be disbursed to another non-profit entity.
The Duluth Cross Country Ski Club hopes to leverage our 501c3 status to raise monies to help educate the skiers in our community in large ways and small.
Previous Post | Next Post

Loading ...