IRS Rejects 501c3 Status!

[Lloyd Danforth]

Whoa! Do I sense a little negativity here?? Send me the Liberty Dollar.? I'll send you 10 bucks fiat and postage.

Lloyd Danforth
C/O 31 Norfolk St.
Hartford, CT 06112

[Michael Fisher]

Thanks, Lloyd!  I'll send your contact info to Tony! 

[Russell Kanning]

Maybe in the future you could just split the silver amongst the families and give it on top of the $1000 paper money.

[Michael Fisher]

"LSF Rejects IRS!"  That would be a nice headline.   

We're considering not pursuing 501c3 status any further.

[FSPinNY]

While I do not think that we should persue this further, I do think that the 501c3 staus would have hugely impacted the amount of donations to the Scholarship Fund and the Endowment Fund.  We'll be a much smaller organization without it, but maybe that's OK. 

Believe me, I want every legal tax break I can get  I think there are millions of libertarian individuals and small business owners who feel the same way.  I want to reduce my tax burden, and if I can do that AND support an organization that I support, all the better.  I also donate to individuals and organizations and receive no tax deduction, because I choose to.

You might have something there Mike with the "LSF Rejects IRS!".  At the very least, maybe a statement on the donation page and in our brochure where the usual tax-deduction statement goes that explains our position on not persuing the 501c3 status.  That may push someone who wants that tax-deduction over to donating, or even donating more.

Brian

[tracysaboe]

Well people that do matching/fund type things (like people's employers, etc.) typically require that statis, because that's exactly what they use it for -- tax breaks.

Oh well, I can understand. And maybe it is better this way. At least the government can't dictate what you can and can't say and stuff now.

How many people that go to government schools are in New Hampshire?

How much money would the Liberty Scholorship fund need, to get everybody in New Hampshire out of government schools? Maybe it'd be enough.

Tracy

[AlanM]

When we get the Arts Festival/School up and running we can always ask for donations to the LSF, maybe even have a small portion of each ticket be donated to it. Benefits concerts and performances will be possible also.

[AlanM]

We're moving along. The first performances will be next summer. 

[AlanM]

Porcs and Freedom supporters who have retail businesses should be encouraged to have collection cans on their counters for dropping spare change. It really adds up fast.

[FSPinNY]

When we get the Arts Festival/School up and running we can always ask for donations to the LSF, maybe even have a small portion of each ticket be donated to it. Benefits concerts and performances will be possible also.

Thanks Alan!  Tne LSF will be fine.  The Endowment is the key to its long-term success.  We're sowing the initial $eeds now!   

Brian

[davemincin]

Believe we have lost at least one, $1000 donation because of our lack of  501c3  status.  Not being able
to gain 501c3 status will greatly reduce the ability to raise capital, that's a given.

Really believe the BoD needs to decide...You want to really get serious about raising money, and use the tools
available, or stand on principle, and get a couple bucks floating in here and there?

Know anything save dishonor gets my vote....More money, more kids get educated out from under the governments
web.

[AlanM]

My feeling is that if people put tax deductions ahead of freedom, then they are not serious about freedom.

[davemincin]

Well that may be so in some cases Alan, but let's not forget real world too!

One example, the $1000 donation I mention. ?The dollars are in a retirement account, and only way the
money can be released with out penalty...per 59 1/2 10%, plus being charged as regular income to the
donor is being a 501c3 charity. ?Hey...Do the Math! ??? ?Play the system to our benefit!

[davemincin]

See, I'm one of those tht doesn't care about tax deductions.? I don't pay any taxes anyway, so it won't hurt me any.? This way, I will have more of my income to devote to causes like the LSF.?

Cool, so when can we expect your $1000. check!

[AlanM]

Dave, if the LSF should get 501c3 status, I will not donate again, nor will I encourage others to donate, such as through the Arts Festival. I am sick and tired of people begging the Government for special interests.
Now do the math Dave.