BEGIN:VCALENDAR PRODID:-//github.com/ical-org/ical.net//NONSGML ical.net 5.1.4//EN VERSION:2.0 BEGIN:VEVENT DESCRIPTION:Rotary International requires Rotary Clubs to segregate their f inancial activity between Operations and Charitable Activities. At a minim um\, this should be done by utilizing separate bank accounts for operating funds (dues\, meal income and expenses\, etc.) and charitable activities (donations received and project expenses incurred). However\, even with th is clear segregation between operations and charitable activities\, donati ons made to Rotary Clubs are generally not tax-deductible\, because Rotary Clubs are organized under chapter 501(c)4 of the IRS code.  For this ver y reason\, several Rotary Clubs have successfully created a separate secon d legal entity\, typically called the "Rotary Club of XXX Charitable Found ation" and then applied for section 501(c)3 status with the IRS for that s econd entity. This setup then allows Rotary Clubs to fund-raise for charit able projects through this charitable non-profit organization and thus pro vide their donors with the benefits of those donations generally being tax -deductible. In this Zoom webinar we will discuss in more detail what a 50 1(c)3 charitable / non-profit entity is\, what the minimum requirements ar e to operate one\, and how to set one up. Our speakers\, Elizabeth Roth\, Esq. and Ed David\, CPA - members of the Rotary Club of Greater Salem\, NH - are experienced in the process of setting up such entities and consulti ng with non-profit organizations. We will also have members of Rotary Club s attending\, who have set up their own 501(c)3 charitable entity in the p ast\, and can speak about their experience and results. DTEND:20210916T233000Z DTSTAMP:20260901T203139Z DTSTART:20210916T220000Z LOCATION:Zoom SEQUENCE:1 SUMMARY:What is a 501(c)3 non-profit & how to set one up? UID:84eb882f-631f-47d2-bd25-a394f1cc06f5 X-ALT-DESC;FMTTYPE=text/html:

Rotary International requires Rotary Clubs to segregate their financial activity between Operations and Charitable Ac tivities. At a minimum\, this should be done by utilizing separate bank ac counts for operating funds (dues\, meal income and expenses\, etc.) and ch aritable activities (donations received and project expenses incurred). Ho wever\, even with this clear segregation between operations and charitable activities\, donations made to Rotary Clubs are generally not tax-deducti ble\, because Rotary Clubs are organized under chapter 501(c)4 of the IRS code. \;

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For this very reason\, several Rot ary Clubs have successfully created a separate second legal entity\, typic ally called the "\;Rotary Club of XXX Charitable Foundation&q uot\; and then applied for section 501(c)3 status with th e IRS for that second entity. This setup then allows Rotary Clubs to fund- raise for charitable projects through this charitable non-profit organizat ion and thus provide their donors with the benefits of those donations gen erally being tax-deductible.

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In this Zoom webinar we will discus s in more detail what a 501(c)3 charitable / non-profit entity is\, what t he minimum requirements are to operate one\, and how to set one up.

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Our speakers\, Elizabeth Roth\, Esq. and Ed David\, CPA - members of t he Rotary Club of Greater Salem\, NH - are experienced in the process of s etting up such entities and consulting with non-profit organizations. We w ill also have members of Rotary Clubs attending\, who have set up their ow n 501(c)3 charitable entity in the past\, and can speak about their experi ence and results.

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