[Imc] NON-PROFIT STATUS APPROVED!!!

[Sascha Meinrath]

Hi everyone!  A big milestone today, we were granted non-profit status -- 
we're going to the Embassy to celebrate in a few minutes:

The Urbana-Champaign Independent Media Center Foundation (UCIMC) received 
notice today, June 13, 2001, that we were granted official federal 
501(c)(3) [non-profit] status.  According to our notification letter, 
"Based on information you supplied, and assuming your operations will be as 
stated in your application for recognition of exemption, we have determined 
you are exempt from federal income tax under section 501(a) of the Internal 
Revenue Code as an organization described in section 501(c)(3)."  This 
initial ruling, which will be reviewed after December 31, 2004 makes it 
possible for donors to deduct contributions to the UCIMC on their tax 
returns (retroactive to November 30, 2000), as described in section 170 of 
the Internal Revenue Code.  Bequests, legacies, devises, transfers, or 
gifts to the UCIMC of for UCIMC use are deductible for Federal estate and 
gift tax purposes if they meet the application provisions of sections 2055, 
2106, and 2522 of the Code.

Sarah Kanouse, Sascha Meinrath, and Paul Riismandel all contributed to this 
6-month long effort.  Our initial 50-page application and the 30-page 
answer to clarifying questions posed by the IRS are available at the 
UCIMC's community center (218 West Main Street, Suite 110; Urbana, IL 
61801).  Copies of our initial application, clarifying questions, 
notification letter, and supporting materials will be placed on our 
website:  http:\\urbana.indymedia.org.  Further questions concerning the 
Urbana-Champaign Independent Media Center Foundation, please send us an 
e-mail at:  info at urbana.indymedia.org  for questions about donating to the 
UCIMC, please contact our treasurer at fundraising at urbana.indymedia.org.

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