We received some pretty big news two weeks ago when the IRS informed us that Social Media Club has officially been granted our 501(c)(6) non-profit designation. It was a long road to get here, but I am thrilled to be able to put a check mark on this TO DO item.
As founder Chris Heuer mentioned when announcing the Official Chapter Program, this new designation enables all paying professional members in good standing to have a vote on all major Social Media Club initiatives. More importantly, professional members in a 501c6 association, are legally 'owners' of the association. This was a huge legal milestone for us on our journey to become the world largest association of social media professionals, and a larger personal one – since the organization has largely been run by Chris and I on a part time volunteer basis over the last four years.
Receiving this designation is a huge step forward as it means we can launch our membership drive and work to bring in new leadership to take us forward with a new board of directors and new executive leadership for 2011.
Please note that contributions to 501(c)(6) organizations are NOT deductible as charitable contributions on your federal income tax return. However, they are more typically deductible as trade or business expenses if ordinary and necessary in the conduct of the your business (i.e., if you are a social media professional).
We sincerely appreciate all the support we have received over the last four years and I am excited for the coming months as all these loosely joined pieces, come together.