GWTK Tax-Exempt Status Granted

On January 13, 2008, the IRS granted GWTK’s application for tax-exempt status as a 501(c)(6) organization, effective as of our incorporation date (July 20, 2007). A 501(c)(6) organization is a non-profit business league primarily supported by membership dues. A business league is defined as an association of persons having some common business interest such as a professional association. The organization must be devoted to the improvement of that business interest. In the case of GWTK, we are supporting each other in our professional capacities through our networking and speaker events. We are also furthering our goal to advance the mission of Esperanza Academy by lending our professional and personal expertise in order to enrich the girls' educational experience, provide financial support, and build awareness of the school. Members should note that we are not a charitable organization and, therefore, donations to GWTK are not deductible as charitable contributions for federal tax returns. However, our dues may be deductible as trade or business expenses “if ordinary and necessary in the conduct of the taxpayer’s business.”  If you have specific questions on the deductions, please consult your tax accountant.