LINC is organized as a Missouri Not-For-Profit Corporation with a Board of Directors and Corporate Officers. This volunteer board of local residents meets at least quarterly for planning and reviewing all aspects of our programming including a close review of all financial reports and documents. We maintain a system of financial records and practices, manual and computerized, in accordance with standard non-profit accounting procedures. All deposits and expenditures are verified by volunteer board level auditors. Our records are annually submitted to an independent Certified Public Accountant for audit purposes. We make the audited financial report available to donors upon request. The Internal Revenue Service requires the annual filing of Form 990 for tax-exempt organizations, an extremely detailed return of receipts and expenditures, which is also made available for public inspection. As a 501(c)(3) organization, we hold a determination letter from the IRS as being publicly supported and organized for the public benefit. Our assets must be used for exempt purposes only and may not inure to the benefit of any individual. We are a registered Not-For-Profit Corporation holding a tax exempt number, and in good standing with the Office of the Missouri Secretary of State. As a tax-exempt organization, we are not subject to income tax, state sales tax, federal or state unemployment taxes, or county property tax. We are accountable, however, to St. Charles County for the tax-exempt use of our real property in accordance with county statutes as well as to state and federal agencies for the timely payment of all payroll taxes. All grantors, public and private, require financial disclosure in order to qualify for their grant funds. Finally, we voluntarily hold ourselves to the highest standard of accountability as good managers of the resources with which we have been entrusted–to God; the Giver of all things, and the ultimate Judge over all.
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