Have a Tax Question? Ask a Tax Expert
Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.
You may confirm an organization's status by calling the IRS (toll-free) at 1-***-***-****.
ALL nonprofit groups are required to file tax returns. The IRS has a rule that any organization, regardless of income, MUST file the appropriate tax return.
Organizations recognized as tax-exempt file the appropriate form of IRS 990 (990-N, 990-EZ, 990-Full). If an organization does not have tax-exempt status it may be required to file a corporate tax return and pay tax on net income.
Booster clubs should have their own EIN (Employer Identification Number) and not use their school’s EIN. The booster club funds and associated bank account(s) should be kept separate from the school’s funds and bank account(s) to enable accurate accounting.
Schools generally want assurance that booster clubs are properly organized [IRS 501(c)(3)’s] and employing sound financial practices.
I hope this was helpful and best wishes on your position.
Your positive rating is always thanks enough.