IRS Information

IRS Information

501(c)(7) Social Club

 This information is provided for your general reference.  Please contact the IRS for any corrections or updates.

 The IRS offers more than a dozen different classifications of tax exempt status under the 501 tax section.  The MESA STAMP CLUB, Inc. is a 501(c)(7) Social Club with a social or recreational purpose. General information is provided below:

Purpose

Pleasure, recreation, social activities

 Examples

Fraternities, sororities, country clubs, hobby clubs, homeschool support groups

 Requirements

Personal contact, fellowship and co-mingling of members. No private inurement allowed

 Activities

Can provide meals or services only to members in connection with club activities

 Tax deductible donations allowed?

No

 Tax exempt (no taxes on profits)

Exempt from federal income tax on income derived from members; other income taxed

 Source of Income

Primarily (65% or more) of the income must come from the membership

 Membership

Limited membership and consistent with the purpose of the club

 IRS Application Required?

No. The IRS does not require 501(c)(7) organizations to file an application. They can “self-proclaim” tax exempt status

 Annual IRS Reporting

Form 990-N, Form 990-EZ or Form 990

 Legislative Lobbying permitted?

No limit on legislative activity as long as it furthers the exempt purpose