M E M O R A N D U M
TO: State and Local Council and Assembly Officers, Financial Secretaries,
and Faithful Comptrollers
FROM: Knights of Columbus Supreme Advocate's Office
DATE: February 16, 2011
SUBJECT: Important Tax Information for KofC Councils and Assemblies
As you know, the Knights of Columbus, including all of its subordinate councils and assemblies, is a tax-exempt organization, recognized by the Internal Revenue Service as a fraternal benefit society under Section 501(c)(8) of the Internal Revenue Code. Notwithstanding our tax exempt status, each council and assembly is required to file an annual informational tax return (IRS Form 990) with the IRS. In addition to our filing requirement, each council and assembly is also responsible for conducting its affairs in a manner that is consistent with what is expected of tax-exempt organizations. Failure to do so may result in a council or assembly losing its tax exempt status.
In order to help officers of tax-exempt organizations understand their legal obligations, the IRS is offering a free webinar on tax-exempt organizations, including fraternal benefit societies such as the Knights of Columbus. The webinar will cover topics such as "meeting your organization's operational test," "ways to avoid jeopardizing your tax exempt status," and "annual filing requirements for tax-exempt organizations." The webinar will be shown on Thursday, February 24, 2011 at 2:00 p.m. Eastern Time, 1:00 p.m. Central Time; Noon Mountain Time, and 11:00 a.m. Pacific Time.
Click here for registration instructions and more information: http://www.visualwebcaster.com/IRS/75182/reg.asp?id=75182
Also, we suggest you visit the IRS's home page on tax-exempt organizations. It is an excellent resource for council and assembly officers who have questions or need information regarding their federal tax obligations: http://www.irs.gov/charities/index.html?navmenu=menu1
Fraternally,
John Marrella
Supreme Advocate
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