[BC] Underwriting as a source of income

[towers at mre.com]

According to my friend who audits 501(c(3))'s, the IRA has taken a MUCH
tougher stance on granting that status on any thing...new or existing. 
And there is a renewal needed every couple years which requires an audit. 
This started after some so-called churches abused the class and used them
to money launder and hide profits from another company.

The deductability aspect of the contributions really depends on the
receiving entity. Since 501(c(6)) are not tax deductable, there are
questions as to how the soft funds are accounted for. I don't know all the
permutations, but I have worked for people who where very hesitant to
"donate" or pay for anything soft to a 501(c(6)).

MM

> In a message dated 2/1/2009 5:01:09 AM Central Standard Time,
broadcast-request at radiolists.net writes:
>
>> 501(c(3)) stations are mostly school, government and church run.
>> There are a few "private" operations, but since they're neither
>> educational, state, or religious, achieving 501(c(3)) status is
>> difficult.  But it can be done.
>>
>
> I hate to burst any bubbles, but 501(c)(3) status is not difficult to get,
> nor is it unusual.

SNIPPED

> As for the tax deductibility of the donation, most businesses really don't
> care if it is called a donation.  I suspect most write it off as
> "advertising."
>
> Chuck Conrad
> KZQX Radio
> www.kzqx.com
>