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Friends of the Brule gains 501C-3 status
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September 07, 2010 06:03 AM Central
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"Friends of the Brule River & Forest" is a 501C-3 Corporation. This is a classification given qualifying charitable organizations. Upon application, the Internal Revenue Service grants 501C-3 status to organizations meeting strict critea. Once identified as a 501C-3, all contibutions to the corporation are tax-exempt. This permits contributors to deduct gifts from income before paying taxes. This is an important designation for the FBRF, as it tends to attract giving from a broader range of contributors. For gifts $250.00 or greater, the FBRF will send an acknowledging letter to the donor to satisfy IRS requirements.
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