It's not everyday that I get excited about hearing from the IRS, but today is exactly that sort of day!
Everyone break out your abacus and slide those beads to the beat of your favorite song, because Calliope is officially tax-exempt!
From the earliest days of announcing our existence, we have had folks asking us if we had our 501(c)3 status. And that makes sense - having that status means that the IRS has decided we've got our little legal ducks in a row - it is a good sign of a legitimate venture.
Importantly, and very pragmatically, it also means that donations and contributions to Calliope Theatre Company are now tax-deductible. Even better, this applies retroactively to donations made since our incorporation on March 26th of 2019. If you have already donated to Calliope, your donation is tax-deductible. If you've waited for the IRS to give their stamp of approval, I applaud your pragmatism, and now you can confidently support us with donations, or even better, become a member!
A legal caveat, though: purchases of raffle tickets cannot be counted as a tax-deductible contribution. I'll see if I can get this explanation right - raffles are considered gambling in MN, and so even though we can legally hold a raffle due to our MN non-profit status, money spent on gambling cannot be considered tax-deductible, even if the entity running the gambling (raffle in this case) is a 501(c)3.
We value transparency, so we scanned in our letter from the IRS and put it up on the site, here.
Comments