GPU Users Group Files for 501c3 (Tax-Exempt) Status

Hello Everyone,

Today I'm very proud to announce that the GPU Users Group Inc has officially submitted our paperwork (form 1023) to the Internal Revenue Service for 501(c)(3) status.  For those interested, you can track the progress of our application as it passes through the US Postal System via this tracking number: 70110470000080843863

What This Means For the Donor:

As we have submitted our paperwork, the GPU Users Group Inc may now operate as a tax-exempt organization.

Here's an excerpt from the IRS Publication 4220: "Although donors have no assurance that contributions are tax-deductible for federal income tax purposes until the application is approved, contributions made while an application is pending would qualify if the application is approved. However, if the application is disallowed, contributions would not qualify."  This publication may be downloaded at this link: http://www.irs.gov/pub/irs-pdf/p4220.pdf

In short: provided that our organization is approved for 501(c)(3) status, donors may as of 11/18/2011 deduct donations made to the GPU Users Group Inc. on their US Taxes.  This does not apply, as far as I know, to other countries.

More on the Pending Application

The IRS is currently taking between 6 and 9 months to process these applications.  We likely won't hear anything from them until the 6 month mark.  I will keep everyone fully apprised of any developments throughout the process.

Final Thoughts

Today is a great day for everyone involved in the project.  Today marks the culmination of a substantial investment by donors, the directors/officers/staff and of the most valuable element of all, everyone's donated time.  Through all of our combined efforts we can now help our donors as they help us in furthering our mandate of promoting scientific research for the benefit of all mankind.

 

I hope everyone has a great weekend,

Warmly,

Brad Deauman - Executive Director GPU Users Group Inc.