Nevada County Picayune and Gurdon Times Newspaper Archive

Chamber seeking non-profit status

Gurdon's Chamber of Commerce met this last Tuesday at noon at the Gurdon Senior Adult Center.

A report was given about the annual Gurdon fireworks show. The show turned out to be a success despite the thunderstorms that moved the singing and other festivities inside.

It was believed more turned out for the free hot dogs and entertainment than last year.

Last year the Chamber and the Cabe Foundation joined efforts to hold an auction at the Gurdon High School cafetorium. The money raised from the event went to help the Chamber in future projects and the rest went towards the new auditorium fund.

The Chamber has started working on plans for the auction this year, however nothing has been finalized at this time.

In past month's, the Chamber has discussed applying for 501(c)(3) status to allow the it to apply for several different grants.

If the Chamber does become a 501(c)(3) entity, it will help in ways of contributions made to 501(c)(3)s are tax-free and exempt from federal taxation.

Income earned by non-profit organizations is tax-free. Non-profit organizations have perpetual life so it can continue operating in a tax-exempt status even after the original founders pass on.

Special employee benefits are numerous and include: sick pay, group life insurance, accident and health insurance, payment of medical expenses and coverage of pension plans if needed or necessary. It could also include limited liability for directors, officers, employees, volunteers and members.

This provides incentives for those asked to serve with the organization, whether on the board or otherwise.Corporate formalities which enable the organization to provide a structure for decision making, especially when disputes exist between individuals about the direction of the non-profit organization.

Donors are able to make charitable contributions to the organization and receive a tax deduction on their tax return and pay no taxes on this money. Donors may give property, money, stock and services.

501(c)(3) status would also qualify the Chamber to receive large amounts of money in private and public grant money. For entities not recognized as a 501(c)(3) corporation, these foundations and philanthropy organizations will not even allow them to submit a grant (request) for money.

Being a 501(c)(3) will qualify the Chamber for participation in literally hundreds of governmental programs operated by the federal and state agencies of this country. The government will only allow nonprofit corporations with 501(c)(3) status to participate in these programs.

They can also receive cheaper non-profit advertising rates in local publications, but this is due to their non-profit status. Plus, lower postal rates on all mailing and free radio and PSA announcements provided by local media.

The Chamber is looking at the applications now to see how long it will take to fill them out and possible get the 501c3 status.