Real Property Transfer Agreement - 839 SB Ave. – Northeast Neighborhood Revitalization Organization Inc.

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-2- NORTHEAST NETGHBORHOOD a final determination of your foundation status. If we publish a notice in the fnternaL Revenue Bul-letin stating that wewill no longer treat you as a publicly supported organizat.ion, gra4t,ors and contributors may not rely on this determination after the date we publish thenoti-ce. In addition, if you lose your status as a puhlicly supporled organj.- zation, and a grantor or contri-butor was responsible for, "r r"r aware of, the act or faiLure to act, that resulted in your loss of such status, that person may not rely on this determination from the date of the act or fail-ure to act. AIso, if a grantor or cont.ributor l-earned that we had given noEice that you woul-d be removed from classification as a publicly supported. organization, then that person may not rely on this determination as of the date he or she acguired such knowledge. If you change your aources of supportr 1rour purposes, character, or method of operation, please let us know so we can consider the effect, of the change on your exempt stat,us and foundation status. If you amend your organizat.ional document or bylaws, please send us a copy of the amended document or bylaws. AIso, let us know all changes in your name or address. As of January 1, L984, you are liable for sociaL security taxes under ttre Federal fnsurance Contributj-ons Act on amounEs of $100 or more you pay to each of your employees during a calendar year. You are not liable for the tax imposed under the Federal Unemplolment Tax Act (FUIA). Organizations that are not private foundations are not subject to the pri- vate foundation excise taxes under Chapter 42 of t.he fnternal Revenue Code. However, you are nots automatically exempt from other federal excise taxes. If you have any questions about excise, employment, or other federaL taxes, please l-et us know. Donors may deduct contributions to you as provided in section 170 of the Interna1 Revenue Code. Bequests, legacies, devises, transfers, or gifts to you or for your use are deductible for Federal estate and gift tax pur?oses if they meet Ehe applicable provisions of sections 2055, 2L06, and 2522 of the Code. Donors may deduct contributions to you only to the extent that their contributions are gi.fts, with no consideration received. Ticket, purchases and simj.lar pa)ment,s in conjunction with fundraising events may not necessarily gualify as deductible contributions, depending on the circumsLances. Revenue Ruting 67-246, published in Cumulative BulleEin L967-2, on page 104, gives guidelines regarding when talq)ayers may deduct payments for admission to, or other participation in, fundraising activities for charity. You are not required to fi.le Form 990, Return of Organization Exempt From Income Tax, if your gro6s receipts each year are normally $25,000 or lese. If you receive a Form 990 package in the mail, simply attaclr the l-abel provided, check the box in the heading to indicate that your annuaL gross receipte are normally $25,OOO or less, and sign the return. Because you will be treated as a pubtic charity for return filing purposes during your entire advance ruling period., you should file Form 990 for each year in your advance ruling period IJetter 1045 (DOICG)