We are pleased to announce that the Internal Revenue Service has issued an official Letter of Determination notifying us that the Forest Lake Improvement Association has received nonprofit status as a 501(c)3 organization.
Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. These organizations are eligible to receive tax-deductible contributions from donors in accordance with Code section 170.
We applied for 501(c)3 status on June 4, 2021. Any contribution made to the FLIA after June 4, 2021, will qualify for the giver as an approved tax deductible gift.
Other rules and regulations may apply to a donor for tax deductible conditions. Always check with your tax advisor on issues of this nature.