ACCG Organizational Status
ACCG organizational details
Wayne G. Sayles |
May 22, 2012
We have become aware that some parties have questioned the legal status of the ACCG. The following information is provided in a spirit of open and full disclosure to the public.
1. The ACCG was founded on the 15th of July, 2004 as Missouri Nonprofit Corporation #N00599173 and the Articles of Incorporation were filed at that time with the Missouri Secretary of State. All subsequent annual filings have been made when and as required and the ACCG remains an active nonprofit entity.
2. Application for IRS 501(c)(4) tax exempt status was approved on the 13th of January 2005. Organizations approved under this section of the tax code are allowed to engage in lobbying activities, whereas 501(c)(3) organizations have limits on expenditures for lobbying. Contributions to a 501(c)(4) organization generally are not deductible as charitable contributions for federal income tax purposes. They may be deductible as trade or business expenses, if ordinary and necessary in the conduct of the taxpayer’s business. Contact your tax advisor for details. For more, see http://www.irs.gov/charities/nonprofits/article/0,,id=156411,00.html
3. All federal filings (forms 990) have been submitted when and as required in accordance with applicable threshold limits and are a matter of public record.
4. The ACCG is governed by an elected board of seven directors who receive no compensation for this position. The Executive Director receives no compensation for services. Bylaws of the ACCG are posted on this web site at http://www.accg.us/about/bylaws.aspx
5. The ACCG has one part time administrative employee and contracts with several independent professional firms for legal and public relations services. Financial records and accounts are maintained by the Executive Director under the oversight of the ACCG Treasurer and the Board of Directors. All other work of the guild is done by volunteer committee members.
6. Although membership in the ACCG is open to all interested parties, including members of the numismatic trade, the guild is primarily a collector organization with approximately 90% of members being collectors who have no trade affiliation.