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Re: Response to Proposed IAC Banishment Change
On Thu, 28 Mar 1996, Wayne Precht wrote:
To Glamr does Esclarmonde de Colloure send greetings:
> The reimbursement of expenses for officers of the SCA is legal and does in
> no way threaten our non-profit status. The reimbursed officers do have to
> claim the money for tax purposes, but all that does is lessen the total
> deductions for all the other non-reimbursed expenses they incur.
You are correct that reimbursement for some expenses is indeed
permissible under the internal revenue code. The question is not that
simple. I think I tried to explain this in the letter to GC and the BoD.
The question involves whether royalty are "officers" of the corporations,
whether the travel is required by their office, and whether proper
accounting safeguards are in place.
This is not to say that it is or is not being done properly, merely
that the question is not a simple as it appears. There are lots of picky
little details in the Code that will bite one if not handled just right!