SCORE is a non-profit corporation organized in the District of Columbia for charitable and educational purposes and has received income tax-exempt status from the U.S. Internal Revenue Service and from the District of Columbia. Accordingly:
- Donations made to SCORE are not taxable as income to SCORE, and donors may declare them as income tax deductions made to a charitable organization.
- All gifts, in cash or in kind (that is, services or property), shall be used solely to foster and promote SCORE operations.
- In-kind gifts may, for example, include office equipment, donated space, advertising, printing and publications.
- Each chapter shall permanently keep the document that designates SCORE’s tax-exempt status in its office files. SCORE chapters are not independent legal entities nor should any SCORE chapter have its own federal tax-exempt status.
- The SCORE Association annually files a consolidated IRS Form 990 to include all of SCORE. All SCORE chapters must report financial information of the chapter to the SCORE Headquarters office in the Chapter Annual Report, within the deadlines, in order to remain in good standing with the SCORE Association.
- The SCORE Foundation, a 501(c) (3) nonprofit organization and public charity, was established to raise funds to support SCORE in its outreach and for the financial assistance of the SCORE Association for both now and in the future. The Foundation seeks funds through individual donors, corporations and foundations. Donations that are made to the SCORE Foundation are not taxable to the Foundation and are tax deductible to the donor.
State and Local Taxes
To avoid paying state or local sales, income or excise taxes, including room taxes, chapters may wish to seek state sales tax exemptions. The SCORE Headquarters office requests and maintains these exemptions from the states, but please be aware that not all states grant tax exemption to SCORE chapters.