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-2- ELLENSBURG RODEO TIAI,L OF FAMF. ho,o CJ of, the act or failure to act, or the substantial or material change orl r.hepart of the organizati-on that resulted in your loss of such status, of j_f he orshe acquired knowledge that the rnternal Revenue service had given notice thatyou would no longer be classified as a section 509(a)(2) oreanization. Donors may deduct contributions to you as provj.ded in section 170 of thecode. -Beguests, legaeies, devises, transfers, or gifts to you or for your useare deductible for federal estate and ei.fi tax tn.poses if they rneet theapplicable provisions of code sections 2055, 2rb6, and 2522. Contribution deductions are allowable to donors only to the extent thattheir contributions are cifts, with no consideration received. Ticket pur-chases and sinilar paynents in conJunctiou with funrlraising events may notnecessarily qualify as deductible contributions, depending on the circum-stances. see Revenue Ruling 67-246, published in cunulative Bulletin 1967-2,on pa8e 104, which sets forth guidelines regarding the deductibili.ty, as chari-table contributions, of payments marle by taipayers for adrnissiorr to or otherparticipatlon in fundraising activities for ctrarity. fn the heading of thls letter we have indicated uhether you ntust file F,orm990' Return of organi-zation Exernpt Fron rncone Tax. If yes is indicated, youare required to file Form gg0 0n1y if your gross receipts each year arenormally nore than $25,000. However, it you receive a Form 990-package in thenail, please file the return even if you io not exceecl the gross receipts test.rf you are not required to file, simply attach the label provided, check thebox in the heading to indlcate that your annual gross receipts are normarly$251000 or less, and sign the return. rf a return is required,*it must be fil.etl by the l5th day of the fj-fthmonth after the end of your annual accountine p"iioa. A penalty of g20 a dayis charged when a return is filed late, unless-there is reasonable cause forthe delay. However, the maximun penalty eharged cannot exceed $10,000 or5 percent of your gross receipts ior ttri yu"rl "hi"h"o"" i.s less. Fororganizations with gross receipts exceeding $i,000,000 in any year, tle penaltyis $100 per day per return, unless there j.s reasonable cause-rlr the delay.The naximum penalty for an organization with 6ross receipts exceeding$1,000,000 shall not exceed $50,000. This peiaiiy *uv also be charsed if areturn is not complete, so be sure your return is compleLe before you file it. You are required to mahe your annual infornati.on return, Fonn 990 orForm 990-EZ, available for public inspection ferr three years after the laterof the due date of the return or the date the return is filed. you are alsorequired to make availabl.e for puhlic j-nspection your exentption application,any supporting documents, anrl yorrr exemption let.ter. copies of thesedocuments are also required to be provi.rtetl to any iurlj.vidual upon written or inperson r€quest wj.thout charge other than reasonable fees for copying andpostage. You may fulfilt this requirement by placing theee docurnents on thernternet' Penalties may be inposed llor failirre to conply wi.th theserequj-renents. Additional lnformation is available :i.n Fubtication 557,Tax-Exenpt status for your 0rganization, or you may call our toll freenurnber shown above, Letter 947 (InlCc)