Just curious as to why the tax status is an issue.

We did the research on this earlier through a CPA. He strongly suggested that
we we do NOT attempt to take on any special tax status because it is a very
large expense and a huge hassle to even begin the process.

You will find that most local groups and organizations simply take out a
checking account and run their funds through according to their own private set
of by-laws. We can do this as long as we are not running more that $25,000
through the books during a year.

As far as the school goes, it is not an issue. Most of the other local groups
(grange, the masons, etc.) all do the same thing and offer all sorts of
scholarships.

Jason... If you have any questions on this, call me.

Bruce

-----Original Message-----
From: newington_wrestling@yahoogroups.com
[mailto:newington_wrestling@yahoogroups.com] On Behalf Of ajmartin81380
Sent: Monday, March 27, 2006 7:24 PM
To: newington_wrestling@yahoogroups.com
Subject: [newington_wrestling] Scholarship Update

For those of you interested, the scholarship committee is hoping to give
away 3 scholarships next year. The first two will be camp scholarships of
about 300-400 bucks. One being the Richard C. Hastings III Memorial
Scholarship while the other will be the the Newington Wrestling Alumni
Association Scholarship. The booster club gave away the Hastings Scholarhip
this year to get the ball rolling and it is our hope that we can keep it
going. The third award will be an academic award given to a student going on
to college in Rich's name. We are hoping to give away 1,000-1,500 dollars.
The committee has put together a rough criteria and an application process
that is still in the works.
As soon as we are sure of our tax status as an organization I will be going
to see Dr. Swanson at the high school to find out the next step in the
process.








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