[Date Prev][Date Next]
[Chronological]
[Thread]
[Top]
Re: (erielack) GP-35 #'s & Unansered (sic) Questions
Will et al.
First, for list contents purposes:
The new GP-35 road #'s are 2556 & 2561. This from Athearn, posted on another
list.
Now to the squabbling:
I find it curious that this issue has, once again, raised its head as we
enter the season of "good will towards to all", and intended to just
observe. But, your latest has the following statement:
"As I am certain you are aware, a nonprofit
cannot give a premium of greater value than it costs to produce, in this
case the printed matter you receive. You cannot subsidize the cost of
that publication outside of what you take in for a regular membership."
Where does this rule come from? and Who established this? If it's the IRS
I'd appreciate a specific citation to a specific section of the tax code.
Now, please understand I'm not being flip or trying to just break chops. In
my professional (environmental engineering) there thousands of pages of
regulations. I could go on for a LONG time discussing requests to adhere to
"rules" that came solely from an individual when the actual regulation
either doesn't exist or isn't applicable. If there is, in fact, government
control at the level implied that would be most disconcerting.
So, please let me know.
Thanks, RICH CHAPIN
ELHS #3129
- ----- Original Message -----
From: "William Shultz" <wshultz1_@_twcny.rr.com>
To: "Janet & Randy Brown" <jananran_@_mymailstation.com>
Cc: <erielack_@_lists.railfan.net>
Sent: Saturday, December 04, 2004 8:53 AM
Subject: Re: (erielack) Unansered Questions
> Randy,
>
> I must admit I find some of your replies rather curious, 2 and a half
> months ago you where one of the people on this list speaking out the
> loudest for compliance with the by-laws and having the financial
> statement available.
>
> Why should anyone care what it costs to produce the Diamond? Because it
> directly relates to dues. As I am certain you are aware, a nonprofit
> cannot give a premium of greater value than it costs to produce, in this
> case the printed matter you receive. You cannot subsidize the cost of
> that publication outside of what you take in for a regular membership.
> Even if every member were a sustaining or patron member, or donated a
> million dollars, you cannot subsidize what a member receives for their
> dues with that money unless you raise the amount of the dues that is not
> tax deductible.
>
> So let's say you have XYZ publishing printing the magazine and it costs
> $28.00 per year to produce. Then XYZ comes along and says that sorry,
> but they have increased costs to pass on and now it is going to cost
> $31.00 per year to produce, you have to increase dues to cover that
> price increase and you have to reduce correspondingly the amount which
> is tax deductible from the sustaining and patron memberships. Ask the
> IRS about that if you doubt it. If you don't increase dues, you
> jeopardize losing your tax exempt status.
>
------------------------------