| May 16, 2005
| Working with Bruce Wickersham, we completed the application for 501(c)3 status last week. I hand carried the signed application to Bruce on May 10, and Bruce filed it with the IRS the same day. If there are no hang-ups, approval could come in 3-4 weeks. There is potential for some discussion regarding our establishment date for IRS purposes, but Bruce is confident that we will ultimately be approved with no retroactive issues. |
| July 19, 2005
| The IRS had two questions about our application. Responses are due this week. I’ve been working with Bruce Wickersham on this. It doesn’t look like a major roadblock. |
| August 23, 2005
| We received a letter from the IRS that seems to indicate that the last obstacle is changing the dissolution language in the Declaration of Trust. They understand they will hear back from us as soon as the new language is adopted. |
| October 11, 2005
| We have responded to what should be the final question of the IRS. We hope to have an approval letter soon. |
| November 17, 2005
| We continue to await the approval letter from the IRS. We have received an extension for our taxes. The return is complete in draft form and will be filed upon receipt of the approval letter. |
| January 11, 2006
| We continue to await the approval letter from the IRS, which has said that it has 200 days to review our application. Our attorney, Bruce Wickersham, has advised that there is no good way to push the IRS, and that efforts to do so would likely be counterproductive. We have received an extension for our taxes. The return is complete in draft form and will be filed upon receipt of the approval letter. |
| February 15, 2006
| We have filed our tax return based on having 501(c)3 status. This was based on the advice of both our accountant and our attorney. We are still awaiting final approval from the IRS on our status. |
| March 22, 2006
| We are still waiting for approval from the IRS on our filing. There has been no comment since we filed our return. |
| April 27, 2006
| We are still waiting for approval from the IRS on our filing. There has been no comment since we filed our return. |
| June 5, 2006
| We are still waiting for approval from the IRS on our filing. There has been no comment since we filed our return. |
| July 17, 2006
| We have received verbal approval of our 501(c)3 status from the IRS. The approval letter should be received imminently. Approval will be as of the date of our application in May 2005. The IRS will create a backdated 501(c)4 organization prior to that date. We will have no tax liability. |
| September 20, 2006
| We received our final approval letter from the IRS. |
