IRS APPROVES TAX EXEMPT STATUS
Donations now made to Trails of Santa Claus, Inc. will be deductible under Internal Revenue Code Section 170
(Santa Claus, IN, July 29, 2015) Trails of Santa Claus, Inc. (TOSCI) received notice today of its tax exempt status from the IRS. Organization President, John Bowen says, “We are right on track as we begin the process of raising funds to complete and maintain these valuable additions to northern Spencer County. TOSCI’s efforts will focus on private funding from individuals and businesses as a means of reducing any need for additional taxes from area residents.”
TOSCI is tasked with closing the gap between funds already committed to build the four biking and hiking trails that will connect various attractions in and around Santa Claus. Currently over 87% of the estimated $10 million has been raised through various state and federal grants and private donations.
The Trails Project, when complete, will result in increased tourism, more retail establishments and a safe recreational opportunity for residents.
As part of that effort, TOSCI, in cooperation with the Town of Santa Claus has already made a presentation to the Spencer County Commissioner and Council requesting a partnership in the project.
An additional goal of the organization is to raise awareness of the trails and their value to the North Spencer County region.
The next step is filing with the Indiana Department of Revenue for the state exemption.