News
The Center is now a 501(c)(3)
On Monday, March 11, Serbian Cultural and Arts Center finally received word that we had accomplished the long process of converting our organization from a 501(c)(7) private club to a 501(c)(3) charitable not-for-profit. This change will benefit the Center in the long run because it will help us better serve the needs of the Serbian community while also allowing us to bring you more and better cultural programming.
The biggest benefit of our new tax status is that previously, as a 501(c)(7) private club, while individuals and groups could make both monetary and in-kind donations to the Center, they were not able to claim those donations on their taxes. As a 501(c)(3) not-for-profit, people may now make both types of donations to the Center and write them off on their taxes, following IRS guidelines. This is incredibly beneficial not only to the donor, but also to the Center!
Another benefit is we can now apply for state sales tax and property tax exemptions. As many of you know, a large proportion of our operating budget goes to paying our property taxes. It’s a hugely expensive undertaking that unfortunately affects the amount of programming we can provide to the community. Securing an exemption or reduction in our property taxes will relieve us, somewhat, of the financial burden that those taxes impose on the Center.
At this time, we’d like to thank the law offices of Stahl Cowen Crowley Addis for their assistance in helping us secure this important change for our organization. We also want to recognize the hard work of members Vesna Noble and Žika Pavlović for laying the groundwork from which this achievement has sprung.
We hope that you will consider donating to the Center and reap the benefits of helping our organization succeed!
