Is your local/state FFA Alumni Affiliate at Risk of Losing Tax Exempt Status?
Several hundred thousand charities will lose tax exempt status if they do not file a Form 990-N with the IRS in 2010. Previously, organizations (this includes state and local FFA Alumni affiliates with a federal employee identification number) with less than $25,000 annual gross receipts were not required to file an annual report with the IRS. But a 2007 regulatory change required such entities to file a simple e-postcard notice called the Form 990-N if they were not otherwise required to file a Form 990 or Form 990-EZ.
Any organization that has not satisfied its annual report filing requirements for three years in a row is subject to revocation of tax exempt status. If such status is lost, the organization will have to reapply for tax exempt recognition by filing Form 1023 and paying the filing fee. Since organizations with gross receipts of less than $25,000 have been required to file Form 990-N since 2007, if they have not filed it for 2007, 2008, and 2009, they are in danger of losing tax exempt status this year. The original deadline for filing the 990-N for 2009 was May 17, 2010.
On July 26, 2010, however, the IRS announced a "one-time relief program" to preserve tax exempt status for entities that missed their third year of filing the requisite 990-N or 990-EZ. Organizations qualifying to submit the 990-N for 2009 that missed the May deadline now have until October 15, 2010 to file a 990-N before their tax exempt status is revoked.
How does a local/state FFA Alumni Affiliate obtain Tax-Exempt Status as a Subsidiary of the National FFA Organization?
Georgia FFA Alumni Council:
Johnny Jones, President
Kevin Walker, President Elect
Joy Carter, Past President
North Region Member Directors: Wallace Beggs & Jamison Cruce
Central Region Member Directors: Joy Beckum & Jim Moore
South Region Member Directors: Bobby Richardson & Corey Henderson
Directors At Large: Cliff Tippens & Keith Holmes
Emeritus Directors: Bill Lott & Luther Wilkes
Teacher Directors: John Barnes, Amy Crump & Jimmy Cargle