Club tax information
If your club has an EIN, which is required by companies donating to you, then you have to file taxes. Since we basically all are operating as a tax-exempt, we can get that status without having to pay. Below is the necessary information...
- Get an EIN number: http://csi.ucdavis.edu/resources/how-to-apply-for-an-eintax-id/
- Write up "Articles of Organization". I'll attach ours so you have a template. Make sure the name on the EIN application matches the name on the articles and matches the name with the campus! Also make sure the address is the same and the date is for when you are starting the club.
- Decide what dates you want your "fiscal year" to start and end. We did August 31st end and Sept 1st start.
- Call the IRS, wait on hold for an hour. Tell them "My name is ___________ and I'm calling on behalf of my organization, ___________, to request that we be treated as a 501(c)(7). We have our EIN and our Organizing Documents in place".
- Answer their questions, including the name, address, and EIN number for your class/club.
- Voila!
- You will receive something in the mail in 8 weeks and then you need to file your "tax postcard" no later than the 15th of the 5th month after your fiscal period. To file, the website is https://epostcard.form990.org/.
Examples:
Articles of Incorporation for Class of 2014
Click here for the Application for Change of Responsible Party form
Frequently Asked Questions:
Q: When I call the IRS, what should I be asking?
A: You will want the IRS to "recognize" that you're operating as an organization to you will want to make sure the IRS knows you're operating and filing as a corporation status.
Q: Do clubs have to complete state taxes?
A: As of right now, our impression is no. We are working on final clarification with the administration.
Q: I don't see the option to apply as a "business" on the IRS website. What should I apply as?
A: Apply as a corporation (the IRS defines a business as a corporation).