Use of Donated Funds and In-Kind Gifts
Alliance for Astronomy, Inc.
is chartered as a public benefit corporation under the laws of the
State of Missouri and has been recognized as a tax exempt entity by the
IRS under the provisions of 501(c)(3) of the tax code. Alliance takes
seriously our obligation and fiducial duties to the public and,
especially, to the donors who have and will provide financial and other
support to meet our mission. Accordingly, the following elements of our
policy will be carefully observed by the Corporation.
No gift of any nature will be used for private gain.
All funds, in-kind or other
items that are accepted will be used for the specific purpose
indicated by the donor. Such assets will be classified in the records
of the Corporation as “Restricted” or “Unrestricted” with appropriate
sub classifications. Donations for which the donor does not express an
intended use or restriction will be classified as “Unrestricted” and
may be used for any mission-related purpose.
A written receipt for all
cash donations at or above $250 will be issued suitable for documenting
the donation for income tax purposes.
The Corporation will publish its financial statements on its web site within 45 days of the end of its fiscal (calendar) year.
All information about
donors will be protected unless expressly permitted by the donor. IRS
regulations will be followed, however.
The Executive Director
reserves the right and option to decline any proposed donation which,
in his/her sole determination, is deemed not suitable for the
Issued this 6th Day of January, 2007