Quote:
Originally Posted by ladyjane  I keep seeing some posts about organizations being transparent. This is where having a 501c3 is useful.
Now, keep in mind that having that paperwork does not make an organization reputable, but it does give donors a way of understanding where their donations are going. It is also good because donors can then write off their donations.
I have posted before about Guidestar GuideStar nonprofit reports and Forms 990 for donors, grantmakers and businesses . If a rescue has a 501c3, then their records are public! You can see exactly what they have taken in and exactly where it is going! I do know of one rescue that I looked up recently that has not filed their form 990 but that can only go on for a short time before the IRS catches up to them. I believe it is around 5 years that a group's status is revisited.
Anyway......if anyone on here has a question about a group and how they spend their donations, look them up before you donate! You can also see how much they have in terms of assets. I know it was quite a shock to me to see that some groups carry an amazing bank account from year to year. I would also suggest you read their website very carefully. Read their mission statement and watch what they do to see if they are living up to it. You really can find out a lot by reading.
I am not saying that having that paperwork or not having it, makes a group legit or not legit. I am merely informing everyone that you can see what a group does with their donations if they have it. |
I just wanted to make note for everyone. OKYR HAS indeed filed for its 501(c)3 papers. It was filed back in Aug or Sept I believe. Michelle has been in constant contact with them as to the status, it is in process.