KO (koakako) wrote in rcfm,

RCFM is now OFFICIALLY a 501(c)7 Non-Profit!

Hey Y'all,

We are Officially Official now!

It's taken a couple of years to complete, but RCFM is now a 501(c)7 classified Non-profit organization. It's something we've always wanted to do, though we orginally toyed with the idea of filing as a 501(c)3, which is a Charitable Organization.

Horses Ghost was kind enough to raise the filing fee to pay the IRS, through a mini-poker tourney a few years ago. The Board and I (and especially Brody) have sent the IRS dozens of letters and replies, but we've FINALLY been approved as a 501(c)7 - a Non-profit Fraternal Organization.

Beyond recognition, what does this mean? We are Tax-Exempt, for one thing. Since the start we've been a "not-for-profit" corporation in the state of Alabama, but we still paid the IRS taxes on our monetary assets at the end of every year.

This is almost like getting another license. We have Proof that we are a legitimate organization and are capable of raising and handling capital for the purposes of planning and executing our Fraternal Organization's needs and wants.

In other words, we do good FurMeet. But you all knew that already, right? ;)

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