We received word this morning that the IRS has approved GCE as an officially recognized 501(c)(3) tax-exempt organization, retroactively effective June 13, 2011. Champagne toasts all around.
You are probably wondering what this means, so we have compiled a FAQ to help you understand the changes going forward.
Q. What does this mean for GCE?
A. We have more accounting requirements than we had before. Also, we must post our determination letter on our website as well as finally design a logo, because letterhead.
Q. What does this mean for me?
A. If you live in Amurka then expect to find us outside your door soon, staring plaintively. You can give us $5 to go away and then claim that $5 on your taxes as a charitable tax deduction, so please call us if you’re only a few bucks into a higher tax bracket and need help repositioning your official finances back where they belong.
Q. What does this mean for your scholars?
A. They keep doing their part and we keep doing ours. Our obligations grow as more and more students meet the benchmarks we set for their academics, and 501(c)(3) status will ultimately help us keep our promises to them since real recognizes real.
If our comprehensive FAQ didn’t answer all your questions, please contact us at firstname.lastname@example.org and will will holler back ASAP.