IAIABC Completes WI Charter, IRS Tax Exemption

With the approval of the Executive Committee, the IAIABC staff commenced two organizational changes in December 2002. First, the association was reincorporated in Wisconsin, and the Kansas corporate charter was left to expire. This change was completed in early spring of 2003. The second major change was to reapply to the Internal Revenue Service for a change in tax status to a 501(c)3 non-profit corporation. This is the tax status of a charitable organization. Previously, the IAIABC had been a 501(c)6 corporation, generally described as a trade organization. The practical impact of th...