As 2016 comes to a close, there are some PS4RS “business items” I’d like to share. This year PS4RS embarked on an arduous task to apply to the IRS for tax-exempt status as a 501(c)(4) social welfare organization, receiving approval as of September 29, 2016. Through this process, we learned that the activities of our organization preclude designation as a “charitable organization.” Fortunately, however, our expenses will be tax-exempt, but unfortunately, donations to PS4RS cannot be tax deductible. The majority of 2016 PS4RS activities included: supporting election of alumni-elected candidates sympathetic to our mission, ongoing release of information and comments to the media on Penn State-related topics, and proactive meetings and communications with PA attorney general candidates.
We also launched a separate organization in 2016 called the PS4RS Legacy Initiative. On June 14, 2016, the PS4RS Legacy Initiative filed an extensive, separate application for tax-exempt status as a 501(c)(3) public charity. If approved (and our legal advisors are not aware of any reason why the application wouldn’t be approved), all donations received after the formation date of May 6, 2016 will be deductible to the fullest extent permitted under the IRS code. While awaiting IRS approval, the Legacy Initiative raised initial funds in support of its new scholarship program for Penn State students. We are proud to announce four $5,000 scholarships awarded to the following students for use in their Spring 2017 semester: Brianna Barker, Christina Cropper, Brian Loane and Andrew Wasmuth. Having received significant interest from students and funders alike, we have every intention of expanding this scholarship program for the Fall 2017 semester and beyond.
We look forward to continuing our efforts toward restoring Penn State’s reputation, unifying the broader Penn State community and improving governance, but we really do need your help. For five years, PS4RS has operated on a completely volunteer basis, managing expenses on a shoestring through the generosity of Penn State friends, alumni and supporters. We are enormously grateful for the time, passion, contributions and effort of everyone who has stepped up to lend a hand “For the Glory.” However, as we’ve become more formal and more organized (and larger!), we have a need for more significant, sustainable funding to cover the necessities of insurance, occasional legal counsel, communications tools and other basic non-profit expenses.
During this season of giving, please consider a donation to PS4RS and/or to the Legacy Initiative. Checks may be mailed to: 252 Green Road, Woodland, PA 16881. We also encourage you to make a donation (one-time or recurring) via credit card at www.ps4rs.org.
As always, with the enormity and complexity of the tasks ahead, we invite you to participate in PS4RS by lending your expertise, thoughts, ideas and suggestions. Please feel free to reach out to us at any time.
Best wishes to you and yours for a happy, healthy and “rosey” holiday season.
Maribeth Roman Schmidt
Executive Director, PS4RS and PS4RS Legacy Initiative |
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