PCA is now a 501(c)(3)

We received our determination letter from the IRS, and the Philbrook Community Association is now officially non-profit AND tax-exempt. All the paperwork was worth it for a few reasons. First, tax season is now easy, a couple forms with checkboxes (whew!). Second, we do not have to pay any tax on our dues income, especially that pesky $800 CA State minimum franchise fee. And third, we can now accept donations and provide a letter to the donee allowing them to deduct their donation from their taxes. I don't think memberships are deductible, but anything beyond that is. We received some nice donations last summer in addition to the membership fees. As we get ready for the Stewardship Council process, having a little kitty built up to get outside help to represent us may be needed.