Tax-Deductible Giving Transition
Frequently Asked Questions about Supporting the Seminary Co-op Bookstores: Tax-Deductible Giving Transition
Q: What's new about giving to the Seminary Co-op Bookstores?
A: Your contributions to the Seminary Co-op Bookstores are now 100% tax-deductible through our new fiscal sponsor, the Social Good Fund. This enables our supporters to receive tax benefits while helping sustain our mission of preserving and promoting vibrant spaces for books and ideas.
Q: What is the Social Good Fund?
The Social Good Fund is a 501(c)(3) nonprofit organization that serves as a fiscal sponsor for community groups, projects, and initiatives across the United States. They help organizations, like ours, and social impact projects operate under our tax-exempt status while maintaining their independence and mission.
Q: What is fiscal sponsorship?
Fiscal sponsorship is a formal arrangement where an established 501(c)(3) organization (like Social Good Fund) provides tax-exempt status and administrative support to projects that align with charitable aims, like our community programming and youth outreach. This allows projects to receive tax-deductible donations and grants without having to establish their own separate organizational structure.
Q: Are all donations to the Seminary Co-op now tax-deductible?
A: Donations made through the Social Good Fund specifically for our programming and community engagement initiatives are tax-deductible. These funds directly support our author events, reading series, educational programs, and community initiatives that bring books and ideas to life in our spaces.
Q: How do I make a tax-deductible donation?
A: You can make your tax-deductible contribution at semcoop.com/give
Q: Will I receive documentation for my tax records?
A: Yes, should you give electronically at semcoop.com/give, you will receive electronic documentation for your tax-deductible contribution through FlipCause, our online donations platform. If you give via check or money, you will receive electronic documentation from the Social Good Fund.
Q: What will my donation support?
A: Your tax-deductible donation supports:
- Cultural and literary programming
- Author events and reading series
- Educational outreach
- Community engagement initiatives
Q: Is this a change in ownership or structure of the Seminary Co-op Bookstores?
A: No. This is simply a new mechanism that allows us to receive tax-deductible donations for our programming and community engagement work. The Seminary Co-op Bookstores remains an independent, Illinois-based, not-for-profit corporation.
Q: Can I still become a member of the Co-op?
A: Yes! Our membership structure remains unchanged. This new giving option is an additional way to support our mission. To learn more about becoming a member, please visit https://www.semcoop.com/co-op-membership
Q: I've made donations in the past. How is this different?
A: While we've always been grateful for donor support, this new arrangement through The Social Good Fund allows your contributions to be tax-deductible, potentially encouraging more substantial support for our mission.
Q: I'm a member of the Giving Circle–does this change impact my status?
A: No, your Giving Circle membership status remains unchanged. If you currently make a recurring gift through one of our previous platforms (Square, Paypal, or Stripe), we will reach out to you directly to help transition your giving to the new tax-deductible system. If you gave a one-time gift, we will reach out to you in future about renewing your gift through the new tax-deductable mechanism. Your support continues to be vital to our mission, and we're committed to making this transition as smooth as possible for all our Giving Circle Members.
Q: If I want to give a donation via check who should I address the check to?
A: For tax-deductable donations, checks can be made payable to Social Good Fund with Seminary Co-op Bookstore in the memo field, and dropped off or mailed to:
Seminary Co-op Bookstores
5751 S. Woodlawn Ave.
Chicago, IL 60637
Q: What’s Social Good Fund's Address and EIN?
A: Social Good Fund’s Address And EIN are below:
Social Good Fund: PO Box 5473, Richmond, CA 94805
(EIN) TAX ID: 46-1323531
Q: Who do I contact if I have questions?
A: For questions about tax-deductible giving, please contact kevinb@semcoop.com. For general inquiries about the Seminary Co-op Bookstores, reach us at info@semcoop.com