Federal 501(c)(3) Non-Profit Status

Great News! The Club’s 501(c)(3) application has been approved.  One of the primary benefits of being tax-exempt under IRC Section 501(c)(3) is the ability to accept contributions and donations that are tax-deductible to the donor (for amounts in excess of the value of the goods or services received, e.g., the cost of a dinner).  Additional benefits include, but are not limited to:

*   Ability to apply for
*   exemption from state corporate income taxes (in addition to federal);
*   exemption from state sales and property taxes;
*   grants and other public or private allocations available only to IRS-recognized, 501(c)(3) organizations; and
*   Eligibility for discounts on US Postal bulk-mail rates and other services.

Historically, the CYC has relied on membership fees (and a few generous, event-specific sponsorship donations) to fund ongoing operations in order to fulfill our mission statement of providing a medium through which Yale alumni can contribute to both the university and the local community.  As with many non-profit entities, the CYC’s endeavors have been dampened by budgetary constraints.  Now that our members and patrons have the ability to make tax-deductible donations to the CYC, we will be able to expand the purview of our efforts.

This is where you come in.  I urge you to find the earmark in your own budget to make a donation to the CYC this year and to include the CYC in your ongoing charitable plans.  To that end, donations can sent to:

Cincinnati Yale Club
c/o Mr. Charlie Harte, Treasurer
8363 Shadowpoint Court
Cincinnati, OH 45242

For donations in excess of $250, the Club will mail or email you an acknowledgment of receipt.

Thank you in advance for your generosity and commitment to the Cincinnati Yale Club.

Boola Boola!

Michael Hurley
President

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