Other Tax Questions
Questions and comments on other topics covered in Fairmark.com, such as UTMA accounts, and any tax questions that don't fit our other categories.
990 IRS Not for Profit trouble?
Posted by: jannie, August 9, 2017 09:17PM
I am now an officer in a club which is registered (chartered as a not-for-profit by the state) and has been for nearly 50 years. The Club chartered to build & operate a small museum. All money dues/ admissions (none were enough in any given year to have money left over - after paying "mortgage, utilities, insurance, repairs to bldg & exhibit maintenance.

While looking through the records I received they didn't file a 990. Is there a way to remedy this without opening a can of worms. Should I let it go & see if the club continues.

The Museum Has closed due to a legal dispute with the landowner. The fate of the Museum reopening at another location is uncertain. The club has paid its annual not-for-profit annual payment to the state. The club collects dues which pay for newsletter and social functions. No other funds are received or asked for. I don't know how to proceed.


Re: 990 IRS Not for Profit trouble?
Posted by: DeeDee, August 10, 2017 06:10PM
Don't assume, check this database to see if there have been tax filings over the past 50 years. [apps.irs.gov]

Do you have the original IRS determination letter granting tax exempt, non-profit status? That should tell you the tax filing requirements. If, indeed, that organization hasn't filed tax returns for 50 years I would resign my post as that is a huge burden to take on.

Re: 990 IRS Not for Profit trouble?
Posted by: jannie, August 10, 2017 06:42PM
The IRS only gives determination letters to those Org. who are 501c3 (Non-profit which we are NOT). We are a "not-for-profit" chartered by the state.


Re: 990 IRS Not for Profit trouble?
Posted by: DeeDee, August 10, 2017 08:08PM
There are many categories beyond 501(c)(3) organizations that the IRS issues determination letters. However, I am only familiar with handling finances/tax filings for 501(c)(3) orgs.

Re: 990 IRS Not for Profit trouble?
Posted by: jannie, August 10, 2017 11:14PM
Thanks



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