We are pleased to announce that MSGIC is now a recognized 501(c)(3) IRS tax-exempt organization. We would like to take a moment and thank the many individuals who were involved in making this happen, including Chris Slavin, Jim Cannistra, Mike Scott and a special thanks to Doug Reedy.
So, what does this mean going forward?
All dues and sponsorships are tax deductible starting from the “effective date of exemption” which is April 16, 2012. The organization is now responsible for holding an annual meeting, keeping records of all budget and financial activities and refraining from engaging in political activism or lobbying.
For more information on what it means to be 501(c)(3) click here.