Victor IV - Thank you so much for starting this thread and for posting the link to my announcement.
Bigshot - You are correct in that it is not enough to register for the state and that it is necessary to also apply for 501(c)(3) status - which is why we have applied for 501(c)(3) status, something which we have clearly stated on our website at
http://Early1900s.org.
Everything we are doing is entirely consistent with IRS guidance on the matter. Per the IRS website at:
https://www.irs.gov/Charities-&-Non-Pro ... on-Pending
"When the IRS approves a timely filed exemption application, exempt status is recognized back to the date the organization was created. Thus, while an application is pending, the organization can treat itself as exempt from federal income tax under section 501(c)(3). For example, it must file Form 990 (instead of an income tax return) while its application is pending. However, contributors to the organization do not have advance assurance of deductibility because the organization’s exemption is pending. If the organization ultimately qualifies for exemption for the period in which the contribution is made, the contribution will be tax-deductible by the donor. Alternatively, if the organization ultimately does not qualify for exemption, then the contribution will not be tax deductible."
Thus contributions to Early 1900s Music Preservation are currently NOT tax deductible but WILL become tax deductible retroactive to our January 19, 2016 incorporation if/when our 501(c)(3) status is approved. We have gone out of our way to emphasize this on our website - this information is prominently displayed in both our About Us and Support sections along with the link to the guidance on the IRS website.
As for the time frame for our 501(c)(3) approval, hopefully ours will not take as long as your organization's did. The IRS recently streamlined the application process for very small non-profits that do not plan to have paid employees and who anticipate their revenue falling under certain thresholds. They did this, in part, because of the lengthy backlog in processing applications. Larger non-profits will still need to go through the old process - but we are small enough to qualify for the streamlined process. But the result of the streamlined process for the small non-profits has been to speed up the approval process for even the larger ones as well.
PeterF - Regarding your concern that my signing my letter as "Dismuke," - a name I have been known by in the online vintage music world for over 18 years - is somehow "shady," I'm not quite sure what to say. If you go to the "About Us" section on our website, you will see the first and last names of our entire board of directors. But I'll just point out that a whole lot more people who have occasion to visit that website will know who Dismuke is than will know who the other people are. Not that I am somehow more special than anybody else - but I am certainly more widely known as there just so happens to be a famous Internet radio station named after me. And speaking of which, Radio Dismuke is hardly obscure in the world of Internet radio. For example, the UK Telegraph newpaper has named us one of "the best internet radio stations." See:
http://www.telegraph.co.uk/radio/what-t ... -stations/
Also, observe that my online letter is addressed "Dear Radio Dismuke listener" and is hosted at RadioDismuke.com In other words, the letter is addressed to and assumes an audience who knows full well who Dismuke is. They are familiar with the work I have done on the station and most have probably heard me on the occasional special broadcasts we do. So there is absolutely nothing "shady" about it in any way. I have zero expectation that somebody who is not familiar with Radio Dismuke would want to contribute to the new non-profit that now owns the station. Why would they? My letter was clearly not addressed to such people.
As for the decision to go the non-profit route, it was simply the best possible way to take the station to the next level and ensure its long-term future. Up until now, the station has been entirely funded out of my own pocket. Most Internet radio stations attempt to pay their bills through donate buttons on their site and/or by joining networks that insert advertisements in their stream. Until now, my policy has always been to politely decline whenever somebody offered to send a donation for the station. And I consider running modern commercials in a 1920s & 1930s music station to be only a last resort option - the nasty music used in modern commercials would be jarring and break the mood.
The problem with continuing with the way things are is that there is a limit to how much more I can spend on the station out of my own pocket beyond what I already am. More important than that, I work long hours in a full time day job so the time that I have available to spend on the station is extremely limited. For the station to get to the next level it is simply necessary to bring in additional resources - both financial and in terms of additional volunteer labor. Finally, if I were to be hit by a bus tomorrow, the station, at present, would die with me. Having an organization in place will help make sure that the station continues in the event something were to happen to me.
As for tax deductibility, we anticipate the vast majority of our contributions to be small enough that tax deductibility is not going to be a make or break matter either way. Once our 501(c)(3) is officially approved, that will be handy in terms of being viable for large donors. Large donations would certainly be welcome - but we are not at the point where we are actively seeking them out. In the future, yes, we will be seeking out large donors as we do have some very ambitious initiatives in mind in terms of our mission of bringing the music to the attention of modern audiences. But, as of right now, our biggest obstacle is not money. Even if we had full funding, we don't currently have in place enough qualified volunteers with the time and talent to spearhead and excute such initiatives. In other words, like all organizations, we have to start small, work hard and grow over time. When the time comes to ask for large donations, we will hopefully have an impressive track record in terms of our ability to execute and get maximum results for our donor's contributions. At present, our only track record is my personal track record of operating the station over the past 14 years. As of now, the new non profit is working hard towards meeting its very first test of credibility: being able to fully fund operations on its own without any subsidy from me. Our very first goal is for my future financial contributions to go exclusively towards new equipment and new initiatives and NOT towards just keeping the doors open.
Thanks again Victor Iv for starting this topic. For those who live within driving distance of North Texas, there is going to be a Radio Dismuke booth at the Jazz Age Sunday Social on March 13 in Dallas Heritage Village. Amoung other neat things, there will be live 1920s & 1930 music by Dallas/Fort Worth's own local vintage music band The Singapore Slingers. There will also be a Dixieland band performing as well, The event is lots of fun and if you are able to make it please stop by the Radio Dismuke booth and say "hi." For more info on the event see:
http://www.jazzagesundaysocial.com/
Pictureroll - are you going to be able to make it to the Sunday Social?