15 AAC 23.310 - Application for beneficiary organization

Current through April 6, 2022

(a) Repealed 6/5/2011.

(b) As part of the online permanent fund dividend application, the department will provide a search tool to allow selection of a specific beneficiary organization. The beneficiary organization must provide a physical address for the organization's place of business in a geographic location in order for the organization to be listed in the online search tool to provide services or aid in the geographic location.

(c) For the purposes of AS 43.23.062(d)(1), the department will consider an educational organization, community foundation, or charitable organization to have filed an application only if that application is complete and timely. For the purposes of this subsection, an application is

(1) timely if it is postmarked on or before March 31 of the qualifying year; and

(2) complete if, when considered along with documents submitted with an application that established eligibility for a prior dividend year, it contains all the information required for the department to make the determinations required by AS 43.23.062(d)(2) - (9), including copies of documents necessary to determine eligibility.

(d) For the purposes of AS 43.23.062(d)(2) and (3), the department will verify the tax-exempt status of an educational organization, community foundation, or charitable organization when the organization provides a copy of the tax-exempt determination letter issued by the Internal Revenue Service.

(e) For the department to verify compliance with AS 43.23.062(d)(4), an educational organization, community foundation, or charitable organization must provide a copy of the beneficiary organization's current Internal Revenue Service Form 990 on file with the Internal Revenue Service for the most recently completed fiscal year. If a filing extension has been submitted for that fiscal year, the beneficiary organization's application must contain a copy of the request for an extension and a copy of the Internal Revenue Service Form 990 for the next most recently completed fiscal year. A beneficiary organization may meet the requirements of this subsection by providing a copy of

(1) the online filing confirmation, if the organization files an Internal Revenue Service Form 990N;

(2) the entire form, if the organization files an Internal Revenue Service Form 990EZ; or

(3) page 1, if the organization files an Internal Revenue Service Form 990.

(f) For the department to verify compliance with AS 43.23.062(d)(5), an educational organization, community foundation, or charitable organization must certify in the beneficiary organization's application that

(1) the majority of the members of the organization's board of directors or local advisory board who are holding office during the qualifying year are residents of the state; and

(2) all members of the organization's board of directors or local advisory board serve without monetary compensation.

(g) For the department to verify compliance with AS 43.23.062(d)(6), an educational organization, community foundation, or charitable organization must certify in the application that it provided aid or services in the state during the two calendar years that immediately precede the year the application is filed, and an organization other than a community foundation must declare in the application the charitable purpose for which it provides aid or services in the state. In addition to considering the certification and any declaration required by this subsection, the department will consider the date the Internal Revenue Service granted the organization tax-exempt status.

(h) For the department to verify compliance with AS 43.23.062(d)(7), an educational organization, community foundation, or charitable organization must certify in the beneficiary organization's application that the organization receives at least $100,000 or five percent of the organization's total annual receipts, whichever is less, from contributions. The annual receipts figure must be the same as that reflected in part III of the Internal Revenue Service Form 990 for the most recently completed fiscal year if filing is required by law.

(i) For the purposes of AS 43.23.062(d)(8), an educational organization, community foundation, or charitable organization must provide in its application either

(1) a copy of the audited financial statement, including the auditor's opinion letter, covering the fiscal year for the Internal Revenue Service Form 990 submitted under (e) of this section; or

(2) a certification that the organization's budget for that period was $250,000 or less.

(j) Repealed 6/5/2011.

(k) Repealed 6/5/2011.

Notes

15 AAC 23.310

Eff. 1/1/2009, Register 188; am 6/5/2011, Register 198

Authority:AS 43.23.062