Comments on: Friends of Lulu Tax Information

By: IRS Says Friends of Lulu in Danger of Losing Tax-Exempt Status » Comics Worth Reading

Tue, 31 Aug 2010 12:07:09 +0000

[...] I feared, Friends of Lulu is in danger of losing its tax-exempt status as a charitable organization. At the end of June, the IRS released a “List of Organizations [...]

By: Friends of Lulu Awards Move to Long Beach, Nominations Open to Public » Comics Worth Reading

Mon, 09 Aug 2010 19:11:51 +0000

[...] the organization’s missing financial records have been located, which may mean that they’ll be in better shape to answer questions about their tax-exempt status, which still appears in jeopardy. [...]

By: Tommy Raiko

Tommy Raiko — Thu, 29 Jul 2010 20:54:30 +0000

Perhaps apropos of nothing at this point, but GuideStar, the online resource for information on non-profit organizations, has put together a “What Do You Need to Know about Revocation of Tax Exempt Status” document with some basic info on the implications of such revocation:

http://bit.ly/9K4tsz

Interestingly, that report indicates that there may be *hundreds of thousands* of non-profits that may lose tax exempt status. So there would seem to be lots (an understatement!) of organizations in a similar boat to FoL…

By: Do You Have a Vision for Women in Comics? Friends of Lulu Needs Help » Comics Worth Reading

Wed, 28 Jul 2010 13:55:24 +0000

[...] The tax-exemption question, which blew up when current Friends of Lulu president Valerie D’Orazio (who took the role in [...]

By: Johanna

Johanna — Wed, 14 Jul 2010 10:46:49 +0000

Those are all excellent questions. I’m afraid I’m not going to have any luck getting answers from the last-known contact, though.

By: Torsten Adair

Torsten Adair — Wed, 14 Jul 2010 02:24:05 +0000

Does the organization exist at all?
When was the board last elected?

Are they still giving out awards?

No revenue for 2007? Does that include memberships?

And if laws are broken, who is liable?

By: James Schee

James Schee — Wed, 07 Jul 2010 01:31:37 +0000

Having worked with H&R Blockthis year, and having some conversations with the IRS for clients. Like Matt says be you an individual or organization you best have your ducks in a row over the next few years.

The IRS believes there is over half a billion dollars in possible tax revenue out there, and they are looking for it. Going as far as hiring new agents whose sole job is to do so, as well as handle the increasing number of audits that are coming.

By: Johanna

Johanna — Wed, 07 Jul 2010 01:17:24 +0000

I don’t think anyone’s debating whether or not Friends of Lulu actually had non-profit status. They have had since 1996. My question is whether, with the changed IRS laws, they’ll be able to maintain it.

By: Ralf Haring

Ralf Haring — Wed, 07 Jul 2010 00:52:04 +0000

Guidestar requires IRS documentation to list an organization. They make the information about who is or is not a non-profit accessible because the IRS was not publicizing that information in an accessible way.

I’m not vouching for FoL or it’s continued status as a non-profit. I’m just giving another point of reference that at one time it had also passed the hurdles to being listed on guidestar. It’s certainly possible it won’t continue to be in the future if they don’t maintain that status with the IRS.

By: Matt Blind

Matt Blind — Wed, 07 Jul 2010 00:42:27 +0000

Ah, yes: but one can take the trouble to register with a ‘generally accredited site’ as a non-profit, and still miss deadlines with the IRS.

The web is one thing; the IRS does not play, and doesn’t care about web registrations, excuses, or best intentions — they just care about appropriate forms filed before appropriate deadlines.

Learn this at your peril; even as an individual fines are a royal pain and well past what is “usual” or “appropriate” — The IRS Does Not Play.

I’ve been audited. It sucks.

get right by the IRS now, everyone, before the IRS Takes A Chunk Out Of Your Ass. Johanna shouldn’t have to remind you of this, and also, I don’t get why folks throw it back at Johanna _when_ she reminds you all of this.

By: Ralf Haring

Ralf Haring — Wed, 07 Jul 2010 00:20:50 +0000

fwiw, they are listed at guidestar which is a generally accredited site to know if an organization is a real non-profit or if they just say they are.

http://www2.guidestar.org/organizations/33-0684890/friends-lulu.aspx