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<font size=3>Hi everyone! A big milestone today, we were granted
non-profit status -- we're going to the Embassy to celebrate in a few
minutes:<br>
<br>
</font><font size=2>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.<br>
<br>
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:
</font><font size=2 color="#0000FF"><u>info@urbana.indymedia.org</u></font><font size=2>
for questions about donating to the UCIMC, please contact our treasurer
at
</font><font size=2 color="#0000FF"><u>fundraising@urbana.indymedia.org</u></font><font size=2>.
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