OLD ORCHARD BEACH — Patrons who make donations to the Edith Belle Libby Memorial Library can now get a tax receipt for their charitable contributions.
The library received a letter from the IRS Saturday that its 501(c)(3) status has been reinstated, said Library Director Lee Koenigs. She said the status is retroactive.
“It’s amazing news,” she said.
According to IRS records, the library’s tax exempt status was revoked in November of 2010. The library, though it receives most of its funding from the town, is a quasi-municipal corporation with a board of trustees.
Koenigs said the tax filing for nonprofits used to be fairly simple, but a few years ago, it became more complex. She thinks what may have happened was that the new system was outside the capacity of the former bookkeeper.
Koenigs said the library is now using an accountant to file the taxes.
The library has been working since the spring of 2012 to get its tax status reinstated, said Koenigs.
“It’s been a long haul,” she said.
Trustee Israel Collins said now that the library can issue receipts for tax deductions in exchange for donations, it provides a little more incentive for people to choose the library when they make a donation. He said it also opens up grant opportunities for the library.
Koenigs said getting the status reinstated was really important to library officials. With an expansion project coming up, the library is exploring different fundraising ideas.
— Staff Writer Liz Gotthelf can be contacted at 282-1535, ext. 325 or egotthelf@journaltribune.com.
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