Monday, March 15, 2010

Heartfelt Couture is now a 501c3 public charity

Heartfelt Couture is now a 501c3 IRS recognized non-profit.

What does this mean you ask(unless you are a CPA or know tax laws)?
It means that I had to go through a LONG process, with a lawyers help, to have Heartfelt Couture be a recognized non-profit with the IRS. Donations were always tax deductible, but by making Heartfelt a 501c3 we are now accountable for all donations with the IRS. We will also have to file tax returns in May.

I will also be posting Heartfelt Couture financial information every year. I will post how much we have made for the year and how much we have spent.

Heartfelt Couture also has a board of directors. We are an extremely small non-profit but to meet the qualifications for the 501c3 status a board of directors had to be put into place. We have no paid employees. Everyone works as volunteers. Just a little glimpse into how Heartfelt Couture is run.

Keri Abshier


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