[OPLINLIST] 501(c)(3) Question

[kartzner@hotmail.com]

Hi James,

I'd say most public libraries do not have official charitable status (with a letter of 501c3 determination at the federal level obtained after application). Similar to public schools and some other tax-supported entities that fall under a different tax-exempt code, though, they do tend to fall under the 501c3 IRS code for charitable activities -in theory-. 

However, if they want to go for foundation grants, many private foundations require the actual 501c3 paper in order to grant a tax-deductible gift. I think the issue is more that of the time involved in obtaining (and maintaining) charitable status, rather than if it's allowed, although perhaps someone who's gone through the process can speak to that (links below may help).

Most library friends groups or library foundations, on the other hand, are set up specifically as  501c3, and this tends to be the way many libraries do their main fundraising.

These links talk about incorporation of both the library itself, and its friends/foundation:

- http://www.webjunction.org/funding/resources/discussion/4286095

- http://www.midland-mi.org/gracedowlibrary/donationtaxinfo.html

-Katie
(The Foundation Center)

Sent from my HTC on the Now Network from Sprint

----- Reply message -----
From: "James Nagy" <nagyja at massillonlibrary.org>
Date: Mon, May 9, 2011 22:09
Subject: [OPLINLIST] 501(c)(3) Question
To: <oplinlist at oplin.org>

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