Bram
Recycles dryer sheets
- Joined
- Dec 16, 2006
- Messages
- 227
The charitable/educational group to which I'm a member has 501-3-c tax exempt status. We have 110 or so members & a question has been voiced as to what is the $ limit we are legally allowed in our treasury. Some say it is $25k.
I found nothing in Publication 557, Tax-Exempt Status for Your Organization.
Is anyone familiar with the regulations on this? Did I miss something? Is there a limit on treasury balance, that if exceeded would risk our group being bumped from tax-exempt? We are in the $23k range & some members are getting jittery.
I found nothing in Publication 557, Tax-Exempt Status for Your Organization.
Is anyone familiar with the regulations on this? Did I miss something? Is there a limit on treasury balance, that if exceeded would risk our group being bumped from tax-exempt? We are in the $23k range & some members are getting jittery.