IT’S OFFICIAL!
BASC, Inc. has received its 501(c)(3) tax exemption!  This is a pivotal moment for BASC’s financial well-being!  Here’s why: one of the primary benefits of being considered tax-exempt is the ability to accept contributions and donations that are tax-deductible to the donor. So, now that donors receive tax deductions for their BASC donations, more people will have financial incentives to donate to BASC and include BASC in their annual charitable giving plans.
Some additional benefits of being a tax-exempt corporation include:

    * Exemption from federal and/or state income taxes
    * Possible exemption from state sales and property taxes (varies by state)
    * Ability to apply for grants and other public or private allocations available only to    IRS-recognized 501(c)(3) organizations
    * Potentially higher thresholds before incurring federal and/or state unemployment  tax liabilities
    * The public legitimacy of IRS recognition
    * Discounts on U.S. Postal bulk-mail rates and other services

Now that BASC has been granted tax-exempt status, however, it does not have a blanket waiver of all tax obligations. Certain tax laws and liabilities will still have to be followed and paid. 

Regardless, BASC now has the authority to raise serious money to fund current and future plans that carry out our mission!