Crooms AoIT Alumni Association, Inc. Receives Formal 501(c)3 Status Determination Letter

Earlier this week, the Crooms AoIT Alumni Association, Inc. received a formal determination letter from the Internal Revenue Service granting us 501(c)3 status. In late November 2011, the Alumni Association applied for formal recognition as a 501(c)3 federally tax-exempt entity. Prior to this point, the Alumni Association operated as a federally tax-exempt entity under the small organization rules laid out in Section 508 of the tax code.

The new determination letter regarding tax exempt status provides complete assurance to our donors that their donations are tax deductible. The formal determination letter will also provide us with a stronger ability to solicit funds from large businesses. Finally, formal 501(c)3 status also means the Crooms AoIT Alumni Association, Inc. will appear in IRS Publication 78, the IRS's official listing of organizations eligible to receive tax-deductible charitable donations.

"Supporters and members of the Alumni Association will not notice a difference, as we were already a federally tax-exempt organization," remarked Secretary/Treasurer Frank Bracco, '06, "but, it does mean more compliance requirements for those of us in the back office."

One individual instrumental in starting the ball rolling on gaining 501(c)3 status is former Management Team member Santiago Ossa, '07. Upon hearing the news regarding the formal recognition and increased compliance requirements, Ossa joked, "That's how you know you're playing with the pros.”

Informal discussions to gain formal recognition as a 501(c)3 tax-exempt entity began back in summer 2010 as the corporate framework for the Alumni Association was being created. Former Board of Directors members Scott Johnson, '06 and Brandon Eady, ’05, former Management Team member Santiago Ossa, '07, and current Board members Gaelan Adams, ’07, John Amirrezvani, ’06, Frank Bracco, ’06, and Brock Mangus, ’07 were instrumental in the drafting of the corporate documents and creating the processes to eventually gain 501(c)3 status. A special thanks also goes out to The Founders Society, whose contributions help partially fund the application for tax-exempt status.