As previously reported, we filed on May 9, 2014 with the Internal Revenue Service to convert the TJCSA from a 501(c)(6) to a 501(c)(3) tax-exempt organization.
On July 16, 2014 the IRS returned a favorable determination for the TJCSA converting our status to a non-profit 501(c)(3) tax-exempt public charity. Our new status is retroactive back to May 9, 2014, the postmark date of our application. The TJCSA is now qualified to receive tax deductible bequests, devises, transfers and/or gifts with it’s new status.
Our next step will be to apply with the Tennessee Department of Revenue for sales tax exemption. The potential monies that can be saved with the sales tax exemption approval from the State of Tennessee should equate to enough cost savings to easily be in the thousands each year.
We will try to keep you updated on the process with the State of Tennessee.