The AIAS website hosts several financial documents that could prove useful for chapter leaders at various times during the year. Here is a quick synopsis to explain when and why you might need each document.
1) AIAS Tax ID and Non-profit Status – The AIAS maintains one national tax ID number and one corporate status, of which all of the chapters are underneath in an umbrella structure. Chapters do not need to file independent tax returns or apply for independent tax ID numbers. This is one of the many advantages of being structured as a national organization with chapters. This letter is directly from the AIAS Executive Director and is primarily distributed to banks or school administrations when requested. It should never be pro-actively distributed.
2) Original Letter of Federal Tax Exemption – The AIAS is organized as a 501(c)(3) for the purposes of federal tax policy. This status allows the organization to operate without paying federal income taxes. Please note, how this status is applied to state sales tax and other taxes varies by state. This document is typically used when setting up a bank account, coordinating with a school’s student organization/club administration, securing donations, or securing a tax-free purchase in some states. This document should only be provided upon specific request. It should never be pro-actively distributed.
3) Donation Receipt Letter – This letter is customizable and should be pro-actively distributed to any donor of in-kind materials, supplies, or cash. The letter acknowledges the donation for the donor and estimates the value of the donation for tax purposes. In most cases, donations “may” be tax deductible (as indicated in the letter). Tax law differs by state and it is important to never render definitive tax advice to another person/company. Please note, donors typically need time to consider, authorize and distribute funds. Fundraising should be taken on well in advance of any desired outcome.
4) W9 – This is an official IRS document that identifies the AIAS’ tax status and Federal Tax ID Number. This may be distributed to donors, banks, or school administrations when requested. It should never be pro-actively distributed.
5) Certificate of Insurance (COI) – The AIAS maintains one liability insurance policy, under which all of the chapters are named as additional insureds. It is an umbrella policy, much like our corporate status. If at any time an event venue or school administration requests a COI, please reach out to AIAS directly to request one at email@example.com.
6) Example Budget – Self-explanatory.
Most of these documents are password protected and can be found on the Resources page. Please email firstname.lastname@example.org to receive access. At any time, the AIAS Executive Director is available to consult on questions, issues or concerns. Please feel reach to out directly to Executive Director Nick Serfass at (202) 808-0088, email@example.com, @nickserfass (Snapchat), @nickserfass (Instagram) or Nick Serfass (Facebook Messenger). The easiest platform for you is the easiest platform for Nick.