Do Key Club accounts need to have their own TIN?
Question: We have three sites that have ASB Key Club accounts which are under our districts TIN as it should be. One of the sites recently received a letter from Key Club International that states that their club needs to obtain a TIN and report the number to them. The reasons stated are: 1) Key Club International is a 501(c)(4) organization governed under IRS rules and regulations. It is important for each of our clubs to also be a 501(c)(4) organization. As a result, it is necessary for each Key Club to have a TIN and to report it to Key Club International. 2) Beginning with your clubs administrative year ending in 2008, all Key Clubs must file with the IRS regardless of their amount of gross receipts. If your club has $25,000 or less in gross receipts, a Form 990-N needs to be filed. NOTE: If your Key Club funds are deposited into your schools extracurricular account, the club would still need to file Form 990-N. The letter went on to explain how to get a separate TIN but did state
