501c3 Tax Status Granted
We’re happy to be able to report that the IRS has granted Fox Valley Jewish Neighbors tax exempt status pursuant to IRS Code Sectioin 501c3, retroactive to February 18, 2007.
As many of you know from our website and from conversations, FVJN applied some time ago for tax exempt status, in order to, among other things, allow donations to FVJN to be tax-exempt to the extent that a donor’s tax situation permits. This week we received from the IRS the ruling that FVJN has been granted that status, and that the status is retroactive to the date of FVJN’s date of incorporation on February 18, 2007.
This means that if you have made a donation to FVJN from 2/18/07 on, your donation may be tax-deductible; and we suggest that you consult with your tax advisor about this. Similarly, your donations going forward will be tax-exempt to the extent permitted by law in light of your personal tax situation. We similarly suggest that you consult your tax advisor to determine the deductibility of all such donations.
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With our having obtained 501c3 status, we encourage those of you can to make a donation for 2008 to assist FVJN in meeting its obligations. (Please send your checks to FVJN at P.O. Box 8, Geneva, IL 60134.) We’ve itemized below some of our financial needs.
As most of you know, FVJN has not charged dues, and last requested donations from people in 2006. We are very fortunate to have received so many, many hours of professional services from our volunteers, including religious, graphic arts, architectural, accounting, business consulting, real estate, web work, marketing, legal and a number of other services. Also, FVJN has been the fortunate recipient of furniture, artwork and time for painting and for other work in tastefully decorating our location. (We now have a sitting area with comfortable chairs and a couch, and a coffee table; and shelves and cabinets; for those who haven’t been in our space recently.) All of these things have allowed us to do our best to keep our expenses to a minimum. Nevertheless, we have fixed costs of insurance and utilities. Also, we have an outstanding legal bill of $4600, arising out of our incorporation and application for our tax-exempt status ruling. Finally, we have current needs of (i) a podium (approximately $300) to facilitate the work of our wonderful volunteers who lead our services, and for the many speakers we look forward to having in upcoming years; and (ii) a large banner (approximately $150) for use in parades and at other events.
Thus, to the extent that you have not recently made a donation to FVJN, we are asking you to do so now, in light of our having received tax-exempt status. This will greatly facilitate our ability to move forward in building and strengthening our Fox Valley Jewish community.
We thank you in advance for your generosity.
The FVJN Board of Directors (Do not hesitate to contact any of us with any questions or comments you may have.)
President. Nancy Sohn (firstname.lastname@example.org)
Vice President. Liza Bachrach
Secretary. Jotham Stein
Treasurer. Leslie Weems
Other Board members:
Webmaster: Paula Krapf (email@example.com)
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