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Important News Regarding Our Tax Exempt Status

posted Jan 22, 2014, 7:27 AM by LBOG AA
There have been some complications with the Alumni Association's tax exempt status with the Internal Revenue Service.  Due to confusion with our address, which led to misdirected mail, we did not file to renew our exemption in a timely manner. Consequently, the IRS has revoked our tax exempt status, effective January 1, 2013. We have attempted to reverse this action, to no avail.  Apparently the quickest way for us to fix this is for us to reapply for exempt status.  Fortunately, we can request that our reinstatement be made retroactive to the date of the revocation.  However this process can take several months and may not be complete by the April 15 income tax filing deadline. We realize that this may be inconvenient for those of you who plan on using donations as a tax deduction.  We are very optimistic about our reinstatement, but unfortunately at this time we cannot legally state that we are a tax exempt organization. We will notify you as soon as our tax exempt status has been clarified. If this happens after April 15, you could file an amended return to legally claim your charitable donation. In the meantime, you may want to consult with your tax professional before taking a deduction for a Band of Gold donation. We apologize for the inconvenience.