We’re a small organization that runs monthly tournaments in addition to weekly casual play. We’re officially incorporated as a non for profit in Illinois, but we’re not a 501(c) tax exempt charity. Now that tax time is approaching, I’m wondering what tax forms we need to send in. I’m confused by the IRS site, which seem to only address 501(c)'s.
Does anyone know what forms we’re supposed to send in?
Counting up the tournament admissions fees, even without the overhead of prizes, the scholarship we give, room fees and ratings fees, we probably didn’t even bring in $2,000 in 2004. We had about $100 in the bank at the end of the year. So, we probably don’t even have to file, but I’d still like to know the right forms so I can check out the instructins and maybe have them prepaered just for our own records.
Any information would be appreciated. Thanks.
Bob
I would suggest to contact your Secretary of State regarding the info they need, and the time frame they require. We lost our Inc due to failure to report.
As to the tax questions, you need to contact a professional about that, as well. I doubt anyone here would want to answer a legal question like this.
Please note that I’m not an Attorney, nor a Tax Advisor. The opinion above should not be taken as legal advise.
-Terry
These may or may not be helpful:
irs.gov/charities/nonprofits … 89,00.html
irs.gov/publications/p557/ch04.html#d0e8109
irs.gov/charities/article/0, … 03,00.html
The “open to the public” and “only 35% from non-members” clauses seem to me like the places where it can get tricky…
As the fellow above says, I’m not a lawyer or tax professional, so I can only point you to some IRS material that may or may not apply, and I’m not suggesting you take any action or choose inaction. Do anything you will do at your own risk. 