TAX EXEMPT STATUS
Oxford Junction Improvement, Inc. is now busy working on IRS Form 1023 to acquire 501c3 tax exempt status. The board has had frequent e-mail communication with an attorney in a nearby town, who is helping the board pro-bono. They are about to send the application to Richard Koontz of the Larned Waterman Iowa Non-Profit Resource Center at the University of Iowa for his review and consultation. After the board makes the changes he suggests, they will meet with their attorney for a final review of the application. The application will then be submitted to the IRS.
Acquiring a tax exempt status has been a long and involved process and only a dedicated group of community-minded people would have followed through.