Re: 501(c)3 vs. mutual benefit
From: Judy (BAXTER%EPIHUBVX.CIS.UMN.EDU)
Date: Wed, 25 Jan 95 12:50 CST
Gary Shapiro wrote:
<<Subject: 501(c)3 vs. mutual benefit

A member of Cohousing Santa Barbara has asked me to post the following question.
(I am an almost-member of Cohousing Santa Barbara, a group that has been
looking for a site for three or four years and is still looking.)

What is the advantage of being a 501(c)3 nonprofit cohousing group as
opposed to a mutual benefit nonprofit corporation?  Does it depend on what
kind of money you are trying to get access to?
>>

I am not by any means an expert on this, but it is my impressing that a
cohousing group would be unlikely to qualify as non-profit this way (tax
exempt) - I think that requires education or some such as the purpose.
 Seems to me our Twin Cities Cohousing Network has that status as an umbrella
group, but our individual group is (for now) a non-profit coop, but cannot get
tax deductible donations.

BTW,I don't know how you all find the time for all these posts, but I sure do
thank you.   We are getting close to our construction loan!!

Judy Baxter, Monterey Cohousing Community, (MoCoCo)
Twin Cities Area, Minneapolis/St.Paul Minnesota
e-mail: baxter [at] epivax.epi.umn.edu




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