Mar 22, 2007 at 23:05
Col Potter Tax Status
Col. Potter Cairn Rescue Network is fully up-to-date on its tax-reporting requirements with IRS, as recently verified by IRS. We are currently preparing to file our 2006 annual report (Form 990) with IRS by the deadline of May 15, 2007. Our 2003, 2004 and 2005 financial records were fully audited by a New York CPA, who filed all required returns and documents for those years with IRS and the State of New York, where we are incorporated. Our 2006 financials will likewise be audited, and all necessary reports filed with IRS and NY.
IRS waived any penalties for late filing of our 2003 and 2004 reports (our 2005 report was timely), in appreciation of the incredible volume of income and expense items we handle each year. The many income sources we have (fundraisers, donations, etc.), and the huge volume of expenses in rescuing over 300 dogs a year (341 Cairns in 2006) generates literally thousands of accounting transactions. From intake through fostering to adoption, each Cairn can generate dozens of expense items.
Having been involved during the audit process, having been in regular communication with IRS, and as Chair of the Board and Director of Legal Services for CPCRN, I assure each of you that not a single impropriety was found and not a single penny in penalties has been or needs to be paid.
CPCRN Chair of the Board & Dir. of Legal Services