9/17/2011

Important message for WFSC Members

On October 9, 2011, voting-eligible members of Washington Figure Skating Club (WFSC) will have the opportunity to vote to convert WFSC from a 501(c)(7) organization to a 501(c)(3) organization. A second question on the ballot is whether WFSC should be permitted to use secure electronic voting for future elections, including elections for members of the Board of Gorvernors and Special Elections. Voting-eligible members of WFSC should have received their ballot in the mail this week. We encourage you to vote "Yes" to both questions.

Frequently Asked Questions

Isn't WFSC already a 501(c)(3) organization?
No, WFSC was established as a 501(c)(7) organization. It is a non-profit, but doesn't get all the tax benefits of a 501(c)(3) organization. Its members and underwriters also do not get the tax benefits of supporting a 501(c)(3) organization.

Are figure skating clubs sanctioned by U.S. Figure Skating typically 501(c)(3)?
Yes, the majority of figure skating clubs sanctioned by U.S. Figure Skating have been granted 501(c)(3) status by the Internal Revenue Service (IRS).

What are the benefits of becoming a 501(c)(3) organization?

• Tax savings will reduce the cost to the Club of running test sessions, competitions, and other events.
• Savings to the Club will be passed on to members through skater support programs and limiting fees.
• Donations to WFSC may be tax-deductible (check with your tax advisor).
• Eligibility for grants and underwriting for competitions and other events. Currently, many organizations won't even consider supporting WFSC events because we are not a 501(c)(3) organization.
• Reduced costs of mailings.

Are there costs or disadvantages associated with becoming a 501(c)(3) organization?
There are short-term costs associated with becoming a 501(c)(3) organization. We will need to pay a filing fee to the IRS. There are also some increased annual filing requirements. As a 501(c)(3) organization, we will be subjected to heightened scrutiny by the IRS. However, your all-volunteer Board is willing to spend the time and effort to comply with these additional requirements in exchange for the benefits to the Club of becoming a 501(c)(3) organization.

What is the opinion of the WFSC Board of Governors?
The Board of Governors of WFSC is unanimously in favor of converting the Club to a 501(c)(3) organization. The Board of Governors believes that converting to 501(c)(3) tax status is the best way to support the members of our Club.

Are there any other initiatives on the ballot?
In addition to voting on converting to a 501(c)(3) organization, we are asking the membership to approve that future votes, including voting for members of the Board of Governors and Special Elections, be conducted electronically (i.e., through a secure internet site). The current voting method of WFSC uses USPS mailings which are expensive and labor intensive. Electronic voting is secure, quick, and verifiable. The Board encourages voting-eligible members to vote "Yes" on this question.

Who is eligible to participate in the 10/9 vote?
First Family Members, Subsequent Family Members, Associate Members, Parent Members, Collegiate Members, and Introductory Members who are 18 or older as of September 9, 2011.

If I am eligible to vote, am I required to vote?
It is essential that you cast a vote if you are eligible to do so, either by mailing in your proxy or in person. For the vote to pass, 2/3 of eligible voters must vote in favor of converting WFSC to a 501(c)(3) organization. If an insufficient number of eligible voters cast votes, WFSC will need to re-convene the vote even if everyone who votes is in favor of converting to 501(c)(3).

What is the voting procedure?
Voting-eligible WFSC members should have received a ballot in the mail. You have the option to follow the directions on the ballot and mail in your vote, or bring your ballot to the 2012 South Atlantics Send-Off at Rockville Ice Arena on October 9 to cast your vote in person. It is essential that you cast your ballot if you are eligible to vote in order to avoid the expense of a secondary vote if an insufficient number of voting members participate.

Questions?
Please direct questions to Peter Tsai, President, or Dina Gold, Vice President.

DON'T FORGET TO VOTE WHEN YOU RECEIVE YOUR BALLOT! The WFSC Board of Governors is unanimously in favor of both actions. We encourage you to vote "Yes" to both questions. Please bring your completed ballot to the Special Vote on October 9, 2011 at Rockville Ice Arena at 200p during the WFSC South Atlantics Send-off. Thank you!

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