Tax Exemption Status Pending!
It has been brought to my attention of a question from several members of Magnolia Patrol of our pending application for tax exemption status as a non-profit organization. The questions I have been hearing is when will Magnolia Patrol receive their tax exemption status. I know there is a few registered members who have not subscribed as of yet because of our pending tax status.
Information about subscribing or donating while our application for tax exemption is pending you can click here for more information on the IRS website to clarify that specific question.
The IRS states:
When the IRS approves a timely filed exemption application, exempt status is recognized back to the date the organization was created. Thus, while an application is pending, the organization can treat itself as exempt from federal income tax under section 501(c)(3). For example, it must file Form 990 (instead of an income tax return) while its application is pending. However, contributors to the organization do not have advance assurance of deductibility because the organization’s exemption is pending. If the organization ultimately qualifies for exemption for the period in which the contribution is made, the contribution will be tax-deductible by the donor. Alternatively, if the organization ultimately does not qualify for exemption, then the contribution will not be tax deductible.
Your contribution will be tax deductible once the IRS has processed our application. The IRS time frame to process applications are 6 to 18 months. Again, we are following the same protocols and following the same model as the other neighborhood patrols.
I hope this clears up any questions you may have on our tax exemption status. We are on track on getting our patrols out into the neighborhood soon. We cannot give you specific times when our patrols are out, but I can tell you that the Seattle off-duty police officers will be either in a unmarked or marked vehicle. You will also begin seeing a Magnolia Patrol Support Vehicle driving around the community to promote and reach out to the residents, businesses and condo / apartment complex about our patrols and hopefully have them subscribe to our membership.
If you have any questions, please don’t hesitate to contact us anytime.