Tag: tax-exempt-status

Tax-Exempt Status: Can Your Club Afford to Lose It?

Over the last six months, NCA has received numerous inquiries from member clubs regarding the true importance of maintaining their tax-exempt status. It is a question all general managers and board members are undoubtedly posing right now as the economy continues to tighten. But would

Six Social Clubs Lose Tax-Exemption: The IRS Strikes

Not surprisingly, the Internal Revenue Service (IRS) expects a tax-exempt club to remain in compliance with the requirements of Section 501(c)(7) of the Internal Revenue Code (IRC). But, surprisingly, certain clubs that secure tax-exempt status still operate in a manner inconsistent with the IRS’ requirements.