Wednesday, April 18, 2012

Memorial Fund

I have been asked about the Memorial Fund and its tax status.  We ARE NOT a non profit organization nor are we a charity.  The memorial fund was set up to keep Mindy's name alive by donating money we raise every year from the golf outing between different organizations and/or individuals in need.  All money raised during the outing is given in Memory of Mindy not as a non profit organization or a charity. 

In 2011 I met with an attorney and set up a Employee ID so I could open a bank account to better track the money donated and document of all the purchases and deposits.  This was set up as the "Mindy Lauf Memorial Fund" not as a scholarship fund, charity or a non profit organizations. 

When the concerns were brought to my attention, I called the attorney who set this up to verify again what our status was.  Since we are not a large organization and only have 1 event a year he suggested we only do the ID for the purpose of banking.  I also spoke with an accountant to make sure everything was in order.  Since we are not a non profit organization or charity we can donate the money to any group, organization or individual that we choose, as long as we do so in Mindy's memory.

The donation letters do state at the bottom "keep copy for your tax purposes" this is meant for the individual or company only in case they want to show their $50.00 donation on their taxes.  This does not effect the Memorial Fund in any way.

I hope this information has answered everyones questions, if not please feel free to send an email to mindymemorial@yahoo.com.

Again, thank all of you for your support and helping us keep Mindy's name alive.

Trina

Mission Statement 2012


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