HRC stands for
Hardin Revitalization Committee.
We have been accepted to the Main Street program
(see letter below)
and therefore will now be known as
"HRC MAINSTREET & BEYOND"
~
Department of Commerce
Main Street Program
301 S. Park Ave. * P.O. Box 200505 * Helena, Montana 59620-0505
Phone: 406.841-2756 * Fax: 406-841-2728 * htlp://mtmainstreet.mt,gov/
Aug. 17, 2009
Dear HRC,
My sincere congratulations to you, your application team, and to the City of Hardin on your selection as a designated Montana Main Street community. Your work during the past year will now be recognized by formally joining, under Montana Main Street, more than one thousand towns and cities throughout the country that have dedicated themselves to revitalizing their downtown commercial districts through historic preservation-based economic development.
As you know, the Main Street approach is an incremental process; it is not designed to produce immediate change but, rather, the Main Street program requires long-term effort and careful attention to every aspect of your downtown.
At a mutually agreed-upon time, our state Main Street coordinator, Julie Burk, will visit Hardin to publicly recognize your town's selectionas a designated Montana Main Street program, and to determine the level and types of assistance you will require as you continue to move forward.
I am very pleased that Hardin is joining the Montana Main Street program. Congratulations!
Warm regards,
Anthony J. Preite
Director Montana Department of Commerce
MORE ON US......
We are a small group here in Hardin, Montana,
taking small steps to making our town better.
We have received a few donated items such as primer, paint brushes, and gloves but for the most part we are doing it
all on our own.
Right now we paint buildings, mow empty lots, pick up trash and hopefully together we will make Hardin a better place.
What Does Being a 501c3 Mean to a Nonprofit Organization?
There are benefits and responsibilities to being a 501(c)(3) nonprofit. According to Internal Revenue Service rules, a 501(c)(3) nonprofit must be organized and operated for purposes that are "charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and preventing cruelty to children or animals." Examples of 501(c)(3) organizations include Cedars-Sinai Medical Center, United Way, private schools, libraries, humane shelters and youth sports organizations.
Tax Status
o
The IRS exempts 501(c)(3) organizations from having to pay federal income tax, except for certain unrelated business activities. For example, if a 501(c)(3) library sells coffee mugs with its logo on it as a fund-raiser, it must pay taxes on the proceeds. Having IRS 501(c)(3) status also allows a nonprofit to apply for exemption from various state taxes and local property taxes. Paying less in taxes means the nonprofit has more money for its charitable purposes.
Donation Increase
oNonprofits with 501(c)(3) status potentially receive more in charitable giving. Donations to 501(c)(3) nonprofits are deductible from an individual's personal income tax. Grant-making organizations, such as private foundations, make grants mostly to organizations with 501(c)(3) status to meet rules for foundations established by the IRS. The status usually is also a requirement for government grants.
Other Benefits
oA nonprofit with 501(c)(3) tax-exempt status is eligible for other benefits beyond tax-exemption. The U.S. Postal Service offers reduced postal rates to certain nonprofits. Some businesses provide discounts to 501(c)(3) nonprofits.
Lobbying
o501(c)(3) status permits nonprofits to do some political lobbying -- engaging in activities to influence legislation. There is a limit to the amount of lobbying activity a nonprofit is permitted, based on a formula established by the IRS that centers around the nonprofit's annual expenditures. A nonprofit that does too much lobbying might lose its tax-exempt status and be fined. A tax-exempt nonprofit also cannot endorse or oppose candidates for public office. A political candidate can give a speech to the organization, but with some restrictions.
Unrelated Business Income
oA 501(c)(3) nonprofit cannot receive income from a regularly carried-on trade or business not related to its mission. For example, a religious organization cannot run a for-profit spa. Doing so places the nonprofit's tax-exempt status in jeopardy.
Private Benefit
oA nonprofit must not be operated in a way that its earnings benefit any individual or private shareholder. For example, the nonprofit must not pay board members or the executive director excessive compensation. The nonprofit operation must not benefit private interests. A nonprofit food pantry, for example, cannot purchase food for its shelves only from the food warehouse owned by the executive director's brother.
IRS Rules
oIt takes time, effort and expense to apply for IRS 501(c)(3) status. Once gained, a 501(c)(3) nonprofit must follow IRS regulations, which include filing informational tax returns with the IRS and keeping good records. This adds time and expense to what already may be a heavy workload for a nonprofit with a small budget..
