IRS tax exemption letter
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INTERNAL
REVENUE SERVICE DEPARTMENT
OF THE TREASURY Date:
OCT 1
8 2002 Employer
Identification Number:41-2043870 DLN:17053275012002 Contact
Person: CHRIS BROWN Contact
Telephone Number:(877) 829-5500 ID# 31503 COMMUNITY
CHURCH OF UNION Accounting
Period
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Form
990 Required: Dear Applicant:
Based on information supplied, and assuming your operations will be as
stated in your application for recognition of exemption, we have
determined you are exempt from federal income tax under section 501(a)
of the Internal Revenue Code as an organization described in section
501(c) (3). We have further determined that you
are not a private foundation within the meaning of section 509(a) of the
Code, because you are an organization described in section 509 (a) (3) . If your sources of support, or your
purposes, character, or method of operation change, please let us know
so we can consider the effect of the change on your exempt status and
foundation status. In the case of an amendment to your organizational
document or bylaws, please send us a copy of the amended document or
bylaws. Also, you should inform us of all changes in your name or
address. As of January I, 1984, you are
liable for taxes under the Federal Insurance Contributions Act (social
security taxes) on remuneration of $100 or more you pay to each of your
employees during a calendar year. You are not liable for the tax imposed
under the Federal Unemployment Tax Act (FUTA). Since
you are not a private foundation, you are not subject to the excise
taxes under Chapter 42 of the Code. However, if you are involved in an
excess benefit transaction, that transaction
might be subject to the excise taxes of section 4958. Additionally, you
are not automatically exempt from other federal excise taxes. If you
have any questions about excise, employment, or other federal taxes,
please contact your key district office. Grantors and contributors may
rely on this determination unless the Internal Revenue Service publishes
notice to the contrary. However, if you lose your section 509(a) (3)
status, a grantor or contributor may not rely on this determination if
he or she was in part responsible for, or was aware of,
the act or failure to act, or the substantial or material change on the
part of the organization that resulted in your loss of such status, or
if he or she acquired knowledge that the Internal Revenue Service had
given notice that you would no longer be classified as a section 509(a)
(3) organization. Donors may
deduct contributions to you as provided in section 170 of the Code.
Bequests, legacies, devises, transfers, or gifts to you or for your use
are deductible for federal estate and gift tax purposes if they meet the
applicable provisions of Code sections 2055, 2106, and 2522. Contribution deductions are
allowable to donors only to the extent that their contributions are
gifts, with no consideration received. Ticket purchases and similar
payments in conjunction with fundraising events may not necessarily
qualify as deductible contributions, depending on the circumstances.
See Revenue Ruling 67-246, published in Cumulative Bulletin 1967-2, on
page 104, which sets forth guidelines regarding the deductibility, as
charitable contributions, of payments made by taxpayers for admission
to or other participation in fundraising activities for charity. In the heading of this letter
we have indicated whether you must file Form 990, Return of Organization
Exempt From Income Tax. If Yes is indicated, you are required to file
Form 990 only if your gross receipts each year are normally more than
$25,000. However, if you receive a Form 990 package in the mail, please
file the return even if you do not exceed the gross receipts test. If
you are not required to file, simply attach the label provided, check
the box in the heading to indicate that your annual gross receipts are
normally $25,000 or less, and sign the return. If a return is required, it
must be filed by the 15th day of the fifth month after the end of your
annual accounting period. A penalty of $20 a day is charged when a
return is filed late, unless there is reasonable cause for the delay.
However, the maximum penalty charged cannot exceed $10,000 or 5
percent of your gross receipts for the year, whichever is less. For
organizations with gross receipts exceeding $1,000,000 in any year, the
penalty is $100 per day per return, unless there is reasonable cause for
the delay. The maximum penalty for an organization with gross receipts
exceeding $1,000,000 shall not exceed $50,000. This penalty may also be
charged if a return is not complete, so be sure your return is complete
before you file it. You are required to make your annual
information return, Form 990 or
Form 990-EZ, available for public inspection for three years after the
later of the due date of the return or the date the return is filed. You
are also required to make available for public inspection your exemption
application, any supporting documents, and your exemption letter. Copies
of these documents are also required to be provided to any individual
upon written or in person request without charge other than reasonable
fees for copying and postage. You may fulfill this requirement by
placing these documents on the Internet. Penalties may be imposed for
failure to comply with these requirements. Additional information is
available in Publication 557, Tax-Exempt Status for Your Organization,
or you may call our toll free number shown above. You need an employer
identification number even if you have no employees. If an
employer identification number was not entered on your application, a
number will be assigned to you and you will be advised of
it. Please use that number on all returns you file and in all
correspondence with the Internal Revenue Service. This determination is based on
evidence that your funds are dedicated
to the purposes listed in section 501(c) (3) of the Code. To assure your
continued exemption, you should keep records to show that funds
are expended only for those purposes. If you distribute funds to
other organizations, your records should show whether they are exempt
under section 501{c) (3). In cases where the recipient organization is
not exempt under section 501(c) (3), there should be evidence that the
funds will remain dedicated to the required purposes and that they will
be used for those purposes by the recipient.
If we have indicated in the heading of this letter that an addendum
applies, the enclosed addendum is an integral part of this letter. Because
this letter could help resolve any questions about your exempt status
and foundation status, you should keep it in your permanent
records. Sincerely yours,
Lois G. Lerner |
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Bylaws
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BYLAWS
OF THE
COMMUNITY CHURCH OF UNION FOUNDATION ARTICLE 1
OFFICES
Section
1. Foundation
Offices. The principal office of the corporation in
the State of Iowa shall be located at the Community Church of Union, 402
3rd Street, Union, Iowa 50258.
The corporation may have such other offices, as the Board of
Directors may designate. The
registered office of the corporation required by the Iowa Non--Profit
Corporation Act to be maintained in the State of Iowa, may be, but need
not be, identical with the principal office in the State of Iowa, and
the address of the registered office may be changed from time to time by
the Board of Directors. ARTICLE
11
MEMBERS. Section
1. Members.
The corporation has and shall have no members. ARTICLE
111
BOARD OF DIRECTORS. Section
1
General Powers.
The business and affairs of the corporation shall be managed by
its Board of Directors. The
Board of Directors may authorize any officer or officers, agent or
agents, to enter into any contract or execute and deliver instrument in
the name of and on behalf of the corporation, and such authority may be
general or confined to specific instances. Section
2. Annual
Meeting. The regular annual meeting off the
directors of this corporation shall be held at 7:00 PM on the third
Wednesday of January of each
year commencing with the year 2003, and in each succeeding year, or in
the event such day is a legal holiday in Union, Iowa, the first
following secular day. Notice of the regular annual meeting of the directors
shall be given by written notice mailed at Union, Iowa by ordinary mail,
not less than 10 days prior to the date fixed for such meeting. Except as otherwise required by the Articles of Incorporation
or by the laws of the State of Iowa, notice of the regular annual
meeting of the directors need only state the time and place of the
annual meeting and need not state the business which may be transacted
thereat and any business may be transacted which is within the power of
a meeting of the directors. Section
3. Quorum.
A majority of the number of directors who have been elected and
have qualified shall constitute a quorum for the transaction of
business. Every decision of
a majority of the persons duly assembled as a board of directors with a
quorum present shall be valid as a corporate act and, if less than a
quorum be present at any meeting, those present may adjourn from time to
time and fix dates until a quorum shall be present.
The directors present at a properly called meeting may continue
to transact business until adjournment, notwithstanding the withdrawal
of enough directors to leave less than a quorum. Section
4 Election
and term. The
initial board of directors shall consist of the five persons named in
the Articles of Incorporation. One
term shall expire in 2006 and
one term shall expire in 2007. One term shall expire in 2008,
one term shall expire in 2009. The
directorship filled by appointment by the Church Board of the Community
Church of Union shall expire in 2005.
Directors shall thereafter be elected by the directors at their
annual meeting for a term of six years and until their successors are duly elected and have
qualified, except for the directorship filled by appointment by the
Church Board of the Community Church of Union which shall be a term of
three years. At each
annual meeting the directors shall determine the total number
of directors, not less than five and not more than seven, for the
forthcoming year. They
shall elect directors equal to that number less the number of directors
whose terms do not expire at that annual meeting, except for the
directorship filled by appointment by the Church Board of the Community
Church of Union which shall be filled by such appointment.
Directors shall be members of the Community Church of Union, but
need not be residents of Union.
Directors may succeed themselves. Section
5.
Regular Meetings.
The Board of Directors may provide, by resolution, the time and
place for the holding of additional regular meetings without other
notice than such resolution. Section
6. Special
Meetings. Special meetings of the Board of Directors
may be called by or at the request of the President or any two
directors. The person or persons authorized to call special meetings of
the Board of Directors may fix the place and time for holding any
special meeting of the Board of Directors. Section
7. Notice.
Notice of any special meeting shall be given at least three days
previously thereto by written notice delivered personally or mailed to
each director at his or her address.
If mailed, such notice shall be deemed to be delivered when
deposited in the United States mail so addressed with postage prepaid. Any director may waive notice of any meeting.
The attendance of a director at a meeting shall constitute a
waiver of notice of such meeting, except where a director attends a
meeting for the express purpose of objecting to the transaction of any
business because the meeting is not lawfully called or convened.
Neither business to be transacted
at, nor the purpose of, any regular or special meeting of the Board of
Directors need be specified in the notice. Section
8. Manner
of Action. The act of the majority of the directors
present at a meeting at which a quorum is present shall be the act of
the Board of Directors. Section
9. Action
without a meeting.
Any action required or permitted to be taken by the Board of
Directors at a meeting may be taken without a meeting if a consent in
writing, setting forth the action so taken, shall be signed by all the
directors. Section
10.
Vacancies.
Any vacancy occurring in the Board of Directors may be filled by
the affirmative vote of a majority of the remaining directors though
less than a quorum of the Board of Directors.
A director elected to fill a vacancy shall be elected for the
unexpired term of his predecessor in office.
A directorship to be filled by reason of an increase in the
number of directors shall be filled by election at an annual meeting or
at a special meeting of the Board of Directors called for that purpose. Section
11.
Compensation.
The directors will receive no compensation, but may be reimbursed
for out-of pocket expenses if approved by a majority of the directors. Section
12.
Presumption of Assent.
A director of the corporation who is present at a meeting of the
Board of Directors at which action on any corporate matter is taken
shall be presumed to have assented to the action taken unless his
dissent shall be entered in the minutes of the meeting or unless he
shall file his written dissent to such action with the person acting as
the secretary of the meeting before the adjournment thereof or shall
forward such dissent by registered mail to the secretary of the
corporation immediately after the adjournment of the meeting. Such right to dissent shall not apply to a director who voted
in favor of such action. ARTICLE
IV
OFFICERS Section
I Officers.
The officers of the corporation shall be a president, a
vice-president, a secretary and a treasurer, each of whom shall be
elected by the Board of Directors.
Such other officers and assistant officers as may be deemed
necessary may be elected or appointed by the Board of Directors.
Any two or more offices may be held by the same person, except
the offices of president and secretary. Section
2.
Election and Term of Office.
The officers of the corporation shall be elected annually by the
Board of Directors at the regular annual meeting of the Board of
Directors. If the election
of officers shall not be held at such meeting, such election shall be
held as soon thereafter as conveniently may be.
Each officer shall hold office until his successor shall have
been duly elected and shall have qualified or until his death or until
he shall resign or shall have been removed in the manner hereinafter
provided. Section
3. Removal.
Any officer or agent elected or appointed by the Board of
Directors may be removed by the Board of Directors whenever in its
judgment the best interests of the corporation would be served. Section
4.
Vacancies.
A vacancy in any office because of death, resignation, removal,
disqualification or otherwise, may be filled by the Board of Directors
for the unexpired portion of the term. Section
5.
President.
The president shall be the principal executive officer of the
corporation and shall in general supervise and control all the business
and affairs of the corporation. He or she shall preside at all meetings of the Board of
Directors. He or she may
sign, with the Secretary or any other proper officer of the corporation
authorized by the Board of Directors, any deeds, mortgages, bonds,
contracts, or other instruments which the Board of Directors has
authorized to be executed, except in cases where the signing and
execution thereof shall be expressly delegated by the Board of Directors
or by these by-laws or by statute to some other officer or agent of the
corporation; and in general he or she shall perform all duties incident
to the office of President and such other duties as may be prescribed by
the Board of Directors from time to time. Section
6. Vice
President. In the absence of the
President or in the event of his inability or refusal to act, the Vice
President shall perform the duties of the President, and when so acting,
shall have all the powers of and be subject to all the restrictions upon
the President. The Vice
President shall perform such other duties as from time to time may be
assigned to him or her by the President or by the Board of Directors. Section
7.
Secretary.
The Secretary shall keep the minutes of all meetings of the Board
of Directors. He or she
shall have charge of the Foundation’s books and records.
He or she shall give and serve all notices to the directors,
except that notice for special meetings of directors called at the
request of two directors, as provided in Section 5 of Article III of
these by-laws. In general,
he or she shall perform all the duties incident to his office. Section
8. Treasurer.
If required by the Board of Directors, the treasurer shall give a
bond for the faithful discharge of his duties in such sums and with such
surety or sureties as the Board of Directors shall determine. The treasurer shall have the care and custody of and be
responsible for all the funds, securities, evidences of indebtedness and
other valuable documents of the Foundation, and deposit all such funds
in the name of the Foundation in such banks, or trust companies, or
other depositaries, or in such safe deposit vaults as the Board of
Directors may designate. The
treasurer shall sign, make and endorse in the name of the Foundation all
checks, notes, drafts, bills of exchange, acceptances and other
instruments for the payment of money, and pay out and dispose of same
and receipt therefore, under the direction of the President or the
condition of the finances of the Foundation at each regular meeting of
the Board of Directors and at such other times as shall be required of
him or her. In general, he
or she shall perform all the duties incident to his or her office. Section
9.
Assistants and Acting Officers.
The Board of Directors shall have the power to appoint any person
to act as assistant to any officer, or to perform the duties of such
officer to act personally, and such assistant or acting officer so
appointed by the Board of Directors shall have the power to perform all
the duties of the office to which he is so appointed to be assistant, or
as to which he is so appointed to act, except as such power may
otherwise defined or restricted by the Board of Directors. Section
10.
Salaries.
The salaries of the assistants and acting officers shall be fixed
from time to time by the Board of Directors.
No officer shall receive a salary if he is also a director of the
corporation. ARTICLE
V.
COMMITTEES Section
1. Committees.
Committees not having and exercising the authority of the Board
of Directors in the management of the corporation may be appointed in
such manner as may be designated by a resolution adopted by a majority
of the Directors present at a meeting at which a quorum is present.
Except as otherwise provided in such resolution, members of each
such committee shall be directors of the corporation and the President
shall appoint the committee members. ARTICLE
VI.
CONTRACTS, CHECKS, DEPOSITS, AND FUNDS Section
1. Contracts. The Board of
Directors may authorize any officer, or agent of the corporation, in
addition to the officers so authorized by these by-laws, to enter into
any contract or execute and deliver any instrument in the name of and on
behalf or the corporation, and such authority may be general or confined
to specific instances. Section
2. Checks,
Drafts, etc. All checks, drafts or orders for the payment
of money, notes or other evidences of indebtedness issued in the name of
the corporation, shall be signed by such officer or officers, agent or
agents of the corporation and in such manner as shall from time to time
be determined by resolution of the Board of Directors.
In the absence of such determination by the Board of Directors,
such instruments shall be signed by the Treasurer and countersigned by
the President. Section
3. Deposits.
All funds of the corporation shall be deposited from time to time
to the credit of the corporation in such banks, trust companies or other
depositaries as the Board of Directors may select. Section
4. Gifts.
The Board of Directors may accept on behalf of the corporation
any contribution, gift, bequest or devise for the general purposes or
for any special purpose of the corporation.
The Board of Directors may accept donations which restrict their
uses and purposes and which limit the time, manner, amount, or other
terms of distribution, provided such restrictions are within the
purposes set forth in the Articles of Incorporation. ARTICLE
VII
FISCAL YEAR Section
1. Fiscal
Year. The fiscal year of the
corporation shall begin on the first day of January and end on the 31st
day of December of each year. ARTICLE VIII AMENDMENTS TO BY-LAWS Section
1. Amendments
to By-laws. These by-laws may be altered,
amended or repealed or new By-laws may be adopted at any meeting of the
Board of Directors, if at least six day’s written notice is given of
intention to alter, amend or repeal or to adopt new by-laws at such
meeting. January
15, 2003 |
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Sample Gift Agreement
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SAMPLE
ENDOWMENT
OR GIFT AGREEMENT I.
This Agreement is made and entered into by and between the (Name of Donor) and the Community Church of Union Foundation, an Iowa non-profit corporation. This Agreement shall be effective as of the date of the last signature set forth below. The Foundation hereby agrees to establish the (Name the Donor wishes to call the Account), per the terms of this Agreement, for the benefit of the Community Church of Union. The Account shall be held, invested, and reinvested in a (permanent endowment) or (Account) consistent with the fiduciary responsibilities of the Board of Directors of the Foundation. Distributions from the Account shall be used only for the purposes detailed below. 1. State any special instructions or restrictions. B.
Term: C.
Eligibility:
1.
Name source of funds and how they will be given. For
example, gift of cash, an estate gift, , a small
.B.
The Foundation may accept additional contributions to the
Account from the Donor, V. ACCOUNT ADMINISTRATION A.
This Account shall be used only for a qualified charitable
purpose consistent with B.
These gifts shall at all times be separately accounted for and
entered on the C. The distributions shall be used only for purposes authorized by this Agreement. D. The total earnings of the endowment shall be credited to the Account. VI. AMENDMENT This Agreement may be
amended during the Donor’s lifetime by mutual written consent
After the lifetime of the Donor, if it becomes impossible or
impracticable to satisfy the intent of the VII.
GOVERNING LAW
The validity, execution,
interpretation, and enforcement of this Agreement shall in all VIII. NECESSITY OF ACCEPTANCE This Agreement shall not
be final and enforceable until and unless the Church Board IX.
The parties have caused three copies of this Agreement to be
executed on the last ______________________________ ______________________ Donor Date COMMUNITY CHURCH OF UNION FOUNDATION
_________________________
______________________ Member of Community Church
of Union Date X. ACCEPTANCE The undersigned, on behalf
of the Church Board of the Community Church of Union, hereby acknowledge
that they have read and accept the terms of this (Endowed) Gift
Agreement
CHURCH BOARD OF THE COMMUNITY CHURCH OF UNION
_________________________
________________ President of the Church
Board of the
Date |