1. Becoming Exempt From Paying Federal Taxes and Maintaining Exemption
South Carolina State University National Alumni Association Convention 2017
Compliance
Becoming Exempt From Paying Federal Taxes and Maintaining Exemption
Presented By Nathaniel (Nate) Howard

2. Eligibility Must Be a Chartered Member of SCSUNAA
Must Be Financial with SCSUNAA
Must Be in Good Standing

3. Current Tax Exempt Chapters
Anderson Tri-Area Greater Augusta
Atlanta Greater Columbia
Beaufort County Greater Orangeburg
Berkeley County Houston
Central Virginia Kershaw County
Charleston Military
Charlotte Savannah
Colleton County Southeast Georgia/Fla
Darlington Tidewater Peninsula
Dallas Fort-Worth Washington DC
Fort Bragg-Fayetteville

4. Facts and Important Dates to Remember
There are 34 Chapters in “The Association” and 21 are currently tax exempt. 21/34 = 61.8%
Goal: To have 100% of our Chapters to Obtain Federal Tax Exempt Status
Fiscal Year: July 1 thru June 30
Filing Deadline: November 15
Period to Add Chapters to Tax Exempt List: First Quarter (Jan – March) of any Given Year. Chapter Presidents Will Be Notified

5. Important Information Continued
Chapters are Required to File Taxes Every Year
Three Consecutive Years of Not Filing Will Result in Revocation of Tax Exempt Status
IRS Charges a Fee of Up to $400 for Reinstatement
File Form 990-N if Gross Receipts is $50,000 or Less
File Form 990 or 990EZ if Gross Receipts is more than $50,000
Taxes Must Be Filed on OR Before November 15
It is Not Legal to Collect Donations for Your Chapter if Your Chapter Does Not Have Tax Exempt Status

6. Requirements For Tax Exemption
Obtain Employee Identification Number (EIN).
Contact Internal Revenue Service (IRS) for EIN.
IRS.com – Complete Form SS-4
Form contains Fax # and Mailing Address for a Choice of Submission
Submit EIN, Name of Chapter, Mailing Address, and Contact Person to Nathaniel Howard at
** Information subject to change

7. Consequences of Losing Tax Exempt Status
Embarrassment – Chapter will be noticeably missing from the list of tax exempt chapters at each SCSUNAA quarterly meeting. Plus the IRS list on their website all organizations who have lost their tax exempt status
Cost – It could cost up to $400 payable to the IRS to regain tax exempt status. Plus chapters that hire a CPA for assistance with the reinstatement form may incur an additional expense
Chapter Impairment – You can not legally conduct chapter fundraisers without a 501C3.

8. Filing Form 990-N First Name Last Name Email Address
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9. Questions ????