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Council/Assembly/Home Corporation Tax Information

Your Councils and Assemblies may loose their Tax Exempt status!

Attention All Grand Knights, Financial Secretaries, Faithful Navigators, and Faithful Comptrollers:

There is current legislation, and new legislation forth coming that has specific requirements for Tax Exempt organizations to file tax returns. Failure to abide by the requirements will result in your Council or Assembly loosing its Tax Exempt status. This is very important! I have listed below the major points but it is imperative that you download and view the documents in the sidebar of this web page for detailed information on the changes and what each organization must do in order not to loose their tax exempt status. Each Council and Assembly must carry out its own responsibilities related to its federal tax information returns.

In addition, each individual organization, whether it is the Council, Assembly, Columbiettes, Ladies Auxiliary, or Home Corporation, must have their own Employee Identification Number (EIN). Please verify your organization has an EIN and it is exclusively your own. You cannot use the EIN of the parish your Council or Assembly may be affiliated with. If your organization does not have your own EIN, you can attain one by visiting the IRS website at http://www.irs.gov/businesses/small/ and clicking on Employer ID Numbers (EIN).

Major Points:

• All Councils and Assemblies in the United States are exempt from federal income tax under Section 501(c)(8) of the Internal Revenue Code (IRC), as "fraternal lodges"; provided their Employer Identification Number (EIN) is listed with the Supreme Advocate who will in turn list the number with the IRS for inclusion in the group exemption listing.
• The IRS group ruling that exempts the Supreme Council and its Assemblies and Councils from federal and state income tax does not exempt them from other state and local taxes.
• Each Assembly and Council with receipts over $25,000 must file a return; there is no group or consolidated form 990 filing.
• There is new legislation that will require all Councils, Assemblies and Home Corporations to file electronically an annual notice with the IRS containing basic contact and financial information. Beginning in 2008 for the 2007 year, this new requirement will apply to organizations that currently do not have an annual filing requirement because their gross receipts are less than $25,000.
• Home Corporations are not subordinate units of the Knights of Columbus and are not tax-exempt under the order's group ruling. Each home corporation also must file its own application for tax exempt status on form 1024.
• State law, however, allows Councils to establish Home Corporations as non-stock, non-profit corporations that may qualify as non-profit tax-exempt organizations, either as a section 501(c)(2) title holding company, or as a section 501(c)(7) social club.

Again, it is imperative that you know and follow the IRS tax requirements in order to maintain your tax exempt status. Please read and follow the information as provided on this web site.

If I can be of any further help, please do not hesitate to contact me.

Vivat Jesus.

For any assistance or guidance you may need, contact our State Advocate: Paul Koppie at 727-785-2684 or E-Mail him at pmkoppie@verizon.net.