May 1, 2019 – The Architectural Glass and Metal Certification Council (AGMCC) – governing council for both the North American Certification Council (NACC) and the Architectural Glass and Metal Technician Program (AGMT) – has received exempt status from federal income tax under Internal Revenue Code (IRC) Section 501(c)(3).
To be considered tax-exempt under 501(c)(3), an organization must demonstrate organization and operation exclusively for an exempt purpose – more commonly referred to as charitable programs. None of the organization’s earnings can be given to private shareholders or individuals.
Marcy Rosen, AGMCC’s tax counsel of Schiff Hardin, explains that this recognition emulates the program’s mission: “501(c)(3) tax-exempt status is a reflection and recognition of the organization’s foundational principles and mission to benefit the public.”
This status is beneficial for the program’s initiatives of improving the glazing industry and encouraging high-quality practices for high-quality results. AGMCC can receive financial support to achieve these goals. David Bowles of Dermody, Burke, and Brown CPA’s states, “Under a tax-exempt status, businesses are able to function without the burden of tax consequences and focus on member services. As a 501(c)(3) the businesses can receive tax deductible contributions in addition to being exempt from income tax.”
For more information
http://www.agmcc.org
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