Change in Not-for-Profit Status, 501c3

About 5 years ago, our alumni organization became a not-for-profit 501c3.

While it was a nice idea in theory, in practice it has not really benefitted us. The timing was such that the tax laws changed right about that time, taking away the tax benefits of small donations. Our donation activity did not really change with our change in status. With savings interest rates virtually non-existent, the return on our investment really give us no taxable income either. It really does not make sense to continue to do the paperwork involved with little or no benefit.

Due to all these considerations, our board discussed the matter, and have decided to dissolve our not-for-profit status.

WE WILL STILL BE A VIABLE ORGANIZATION, just not a 501c3.