Wilbraham Hampden Academic Trust, Inc. Attains Tax Exempt Status from Internal Revenue Service

Advance ruling confirms that donations to the educational foundation are tax-deductible

Wilbraham and Hampden, Mass. Sept. 4, 2003—Wilbraham Hampden Academic Trust, Inc. has received an advance ruling from the Internal Revenue Service (IRS) that designates the Massachusetts non-profit corporation as a public charity. The important determination was bestowed retroactive to W.H.A.T’s incorporation on July 2, 2003 and assures that all donations to the corporation are tax deductible to the extent allowable by law.

“New non-profit corporations often have to wait several months for this kind of ruling,” said attorney Kevin Giordano, clerk of the new corporation. “Receiving this determination within weeks of filing is clear evidence of the completeness and competence with which members of our finance committee presented our circumstances to the IRS.”

Coming together over the past several months, a group of concerned citizens of Hampden and Wilbraham formed Wilbraham Hampden Academic Trust, Inc to provide funding for innovative and enriching programs in the regional public school system that serves the two communities. W.H.A.T., as the new corporation is known, is administratively and financially separate from the towns and from the regional school district. For a corporation that is raising private funds to benefit the schools, attaining tax-exempt status is an important step.

Soon after incorporation, the detailed and laborious process of filing for tax-exempt status under section 501(c)(3) of the tax code was undertaken and quickly completed. “We knew that having formal recognition as a tax-exempt organization was going to be critical. We started to prepare the forms as soon as we could and we are gratified that we have received this ruling so quickly,” said treasurer Camie Lamica, C.P.A., who, with finance committee member Terri Judyki, prepared the documents for filing.

Educational foundations similar to W.H.A.T have been formed in numerous communities across the country, including several in the Pioneer Valley during the past several years. The purpose of such organizations is to raise and distribute funds for the benefit of the schools, but not to supplant or even modify in any way the necessary funding that must come from normal budgetary channels.

According to president Robert Lounsbury, W.H.A.T. is well on the way to achieving its vision. “We have incorporated. We have received tax-exempt designation. We are actively raising funds, and by the end of this calendar year we will be making grants for programs in the schools. What is more important?”

Those interested in making a tax-deductible donation to W.H.A.T. may mail it to P.O. Box 477, Wilbraham, MA 01095-0477.