[Alumni-chat] 501C Information

[Dawn Scribner]

Lesley Bahr Wrote....

... I think it is a waste of time to talk about redesigning coop or
curriculum when we don't have a Foundation.  I know people are working hard
and I doubt I have much to contribute to writing a 501(k)3--I had some
meetings with Foundation directors in my area.  They helped me to understand
the process and seemed perplexed at Antioch's current situation.  However it
appears, AB committee is working on a 501(k)3..."

As I have indicated numerous times: the application for 501 status is in
process with the IRS. The AB has dome everything it needed to do to complete
the process sometime ago. Unfortunately we don't have any control over what
the IRS does. 

In the meantime we are able to receive funds into and provide receipts for
501C protected donations, right now. This is how it works for most
foundations, nothing unusual here--fundraising begins while the paperwork is
being processed. 

What follows is a description of the 501C structure from The Antioch College
Alumni Revival Fund Bylaws. I hope it helps frame this in a way that makes
sense.

1.    Purpose.  The corporation is organized exclusively for charitable and
educational purposes as set forth is § 501(c)(3) of the Internal Revenue
Code of 1986, as amended from time to time (³Code²), including the making of
distributions to organizations that qualify as charitable or educational
exempt organizations under Code § 501(c)(3) and including, but not limited
to, the following:
 
(a)   To promote financial and volunteer support to revive Antioch College,
Yellow Springs, Ohio, as a viable educational institution and to restore it
to a prominent place among American institutions of higher education;
__________________________________________________________________________
If anyone requires more information, or has questions concerning the
501C-please email the fundraising committee at antiochians.org-or contact me
and I will forward your questions. The chatlist is not the most effective
way to obtain information regarding what is happening.

Dawn '83