501c3

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As of 4/1/2013, LVL1 Inc. is a 501(c)3 Charitable Non-Profit, with an effective exemption date of Dec. 7th, 2009!

What this means

This means that LVL1 can accept donations, and issue a receipt for donations over $250. If your employer has a matching program, LVL1 may be eligible to receive matching donations from your employer.

Guidelines for 501(c)(3) Usage

  • Your Dues ARE NOT tax deductible
    • Your dues ARE NOT eligible for matching funds
  • Any cash or physical donations are tax deductible
    • YOU are responsible for properly valuating your donations
  • ALL donations must be properly and indelibly marked as 501(c)(3) donations, for tracking purposes
  • ALL donations, cash or otherwise, are property of LVL1, and cannot be removed.
  • LVL1 does NOT offer fiscal sponsorship

How do I 501(c)(3)

Our tax receipt form is here: https://docs.google.com/document/d/1WzlgD6YziPknh5MkzQ-Gf8bsHe_mDA9bGa1Pf1S9SXM/edit?usp=sharing

For donations worth LESS than $250:

  • A receipt need not be issued
  • A note mentioning the address, date, and description of property donated is sufficient if the donor requests it

For donations worth MORE than $250:

  • A receipt MUST BE ISSUED
  • LVL1 needs to retain a copy of the receipt for record keeping

For non-cash donations worth BETWEEN $500 and $5000:

  • Must include a note of how the donation was acquired (purchased, inherited, etc.)
  • Must include a note of the approximate date of acquisition by the donor

If you have any questions, please contact directors@lvl1.org

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