Set-up of Fox Valley Metro Golf Disc Club

[godzilla46]

Does the club have to file for non profit status and  or pick up a tax no. from the IRS. I am curious what exactly Discontinuum  has done.   I ( Ron Miller )  was elected treasurer and kind of want this club to start on the right foot.

[CEValkyrie]

Does the club have to file for non profit status and  or pick up a tax no. from the IRS. I am curious what exactly Discontinuum  has done.   I ( Ron Miller )  was elected treasurer and kind of want this club to start on the right foot.

This is my opinion from the past. It's a long time consuming process to fine for non profit which our club did not qualify. It cost some money & frustration to those who worked on it. I would vote not to file if we could do it again.

[Chainmeister]

My bike club, The Evanston Bicycle  Club, has tax exempt status.  If you wish, I could get some info for you from our treasurer.  We plow money we make back into cycling related causes.  When we have our annual invitational ride, the North Shore Century, we earn a lot of money.  We then donate thousands to a variety of worthy organizations over the following year.

The issue of tax exempt status was recently discussed in an on-line group composed of presidents of local bike clubs at http://groups.yahoo.com/group/presidentscouncil/

This may give  you some insight as to what you have to do.

[mirth]

unless your club has a specific educational or charitable purpose you likely won't be able to get 501.c.3 status. There is another one.... c.4 or c.5 I think, that is for sport recreation clubs but we felt it would be too restrictive for us.

So, we're an IL NFP but we aren't exempt from state or fed taxes.

Be happy to give you more info into our attempts at exempt status.