NWWT is now a 501-c3 organization!

22 Apr 2015 8:24 AM | Roger Crooks (Administrator)

Yesterday I received official notice of our status.  As NWWT starts to grow again and offer more classes, bring in world-class demonstrators, and attend more shows we will need funding.   This will enable us to upgrade our equipment when needed, buy more accessories and provide more benefits to our members.

Why is this important?

  1. Donations to NWWT are now tax deductible (but check with your tax advisor).
  2. Donations from our sponsors are tax deductible.  Hopefully this will help us get more donations for our summer auction and other events.
  3. People can more easily make donations through various agencies, such as United Way, who favor non-profits (some which will match funds).
  4. We can more easily apply for grants (no plans for it today but an option for future).

What should you do now?

  1. We certainly appreciate any donations you can make to NWWT.  Cash is always best but other items (wood working related) can be accepted which we will make available for members to buy or we will sell on Craig’s List.
  2. The bigger opportunity is estate sales.  Several of us have helped with estate sales for woodworking shops - both for club members and non-members.  If you know of an opportunity, let us know and we will get in contact with the family and check it out.
  3. Remember - that day will come for all of us so please keep NWWT in mind. 
  4. IMPORTANT – we need someone to step up to manage donations.  I don’t see this as a big job (hopefully I’m wrong) but if we do get physical donations, we need a place to store them and someone to post the items on our website and on Craig’s List.

501-c3 Requirements

  1. Once we get a donation, I will send them a thank you letter with our 501-c3 information.
  2. Being a 501-c3 organization requires strict record keeping and more reporting.  What this means is accurately tracking our spending  and keeping receipts for all expenditures.  I am using QuickBooks now so that is not a problem but I do need everyone to send me receipts for all expenditures.
  3. It also requires more tax reporting which we are doing.                                                               

Address:  NWWT, PO Box 1157, Lake Oswego, Or 97035
Email:  mailto:NWWT.rogercrooks@comcast.net
NWWT is a 501 (c)3 Organization
Webmaster:  barbara@iwci.com

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