The Friends of the Curley K8, Inc. (Friends) is a non-profit corporation created to act as a fiscal agent for the Curley K8’s School Parent Council. It is organized as a 501(c)3 entity and is a public charity as determined by the IRS. All donations* are tax deductible. The federal tax ID, EIN (Employee Identification Number), or TIN (Tax Identification Number) is 46-3480428.
The articles of incorporation that are registered with the Secretary of State for Massachusetts can be found here.
The by-laws can be found here.
The conflict of interest policy for directors of the board of the Friends can be found here.
*Note about donations: The IRS has determined that the Friends is exempt from income tax under section 501(c)(3) of the Internal Revenue Code. Contributions to the Friends are deducible under section 170 of that Code. The Friends is qualified to receive tax deductible bequests, devises, transfers or gifts under section 2055, 2106, or 2522 of the Code. The friends is classified as a charity and the public charity status is 170(b)(1)(A)(vi).
Obligations of the Friends
The following are the legal obligations of the Friends of the Curley K8 School, Inc. (Friends):
Note: the financial year of the Friends runs from 1 Aug – 31 July.
Record changes to the board of directors:
- The Friends’ Board of Directors (BOD) must a vote to confirm all changes to the composition of the BOD.* Minutes must be recorded by the Clerk. It is suggested that a meeting of the BOD occurs after there first annual meeting of the School Parent Council and the directors of the BOD be aligned with the officers of the SPC.
Annually file following:
- The annual report with the MA Secretary of State – corporations division. The names of each director of the BOD can be updated at this time. Filing can be done online and requires the customer ID and password which should be in the possession of the Clerk. It is suggested that this happens after the annual meeting of the BOD.
- In order to solicit contributions the Friends must register as a charity with the Attorney General using Form PC. The last certificate can be found here and ends 15th December each year. Along with the Form PC the Attorney General also requires a copy of the last IRS Form 990EZ as a record of the financials.
- The federal filing with the IRS can be done electronically with Form 990-N if gross receipts are typically less than $50,000. However, the Attorney General in item 2 above requires that Form 990EZ be filed when registering so it may be simpler to prepare that instead. The IRS filing must occur by the 15th day of the 5th month after the accounting period ends (31 July) or in other words 15th December.
*Note about the composition of the Board of Directors (BOD), the Friends is organized as a complete legal entity to serve as the fiscal agent of the Curley’s School Parent Council (SPC). During its conception it was the intention that the officers of the SPC also comprise the board of the Friends but this does not automatically happen. It is therefore suggested that the BOD meets and goes into session following the annual SPC meeting and votes are taken to align the directors of the board with the officers of the SPC. There is scope for At Large members of the board and board members that are not members of the SPC but it is suggested that due consideration is made before embarking on this.