CRESCENT CITIES CHARITIES INC

About

Crescent Cities Charities, Inc. transitioned from public charity to private foundation status in 2024 following a multi-year decline in public support. This transition triggered the requirement to file Form 990-PF for the first time. At the time, the organization was working with a different firm to complete its 2023 audit and corresponding Form 990. That firm did not conclude its work until November 15, 2024, and no indication was given during their exit conference that the Crescent Cities Charities public charity status had lapsed or that private foundation filing requirements would apply for 2024. In mid-2024, a new audit firm was engaged to assist with ongoing financial reporting and tax compliance. An automatic extension (Form 8868) was submitted under the presumption that Crescent Cities Charities would continue filing Form 990 as a public charity. Only after further analysis of the public support test and Crescent Cities filing history did it become clear that a Form 990-PF was required, and that the extension initially filed did not apply to this form type. This situation was the result of reasonable reliance its auditors and a misunderstanding of the IRSs extension procedures, not willful neglect. Crescent Cities Charities has since taken steps to ensure future compliance and timely filings. We respectfully request that the IRS consider this explanation as reasonable cause for the late filing and not assess late filing penalties.

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Grants Awarded (1 total)