AAPG, as defined by the Internal Revenue Code, is a 501(c)6, and the AAPG Foundation is a 501(c)3.
AAPG, as defined by the Internal Revenue Code, is a 501(c)6, and the AAPG Foundation is a 501(c)3.
There is a clear delineation between these two types of organizations, and it’s important for our constituents to know the difference. So, here’s a quick refresher course:
Contributions to AAPG are not tax-deductible, but contributions to the Foundation are.
The brief reason why is that the Foundation supports the general public, whereas the support of the Association goes to its members. The Foundation was created to lend support to the Association insomuch that its support benefits the general public.
Clearly, the purposes between the two groups seem very similar, but the differences are there. Many of the services that the Association offers are fundable by the Foundation, but those that strictly serve or benefit the AAPG members are not.
If you have any questions about a contribution that you are considering making, please call the Foundation to discuss.
The purposes of AAPG as stated in the constitution are:
- To advance the science of geology, especially as it relates to petroleum, natural gas, other subsurface fluids and mineral resources.
- To promote the technology of exploring for, finding and producing these materials in an economically and environmentally sound manner.
- To foster the spirit of scientific research throughout its membership.
- To disseminate information relating to the geology and the associated technology of petroleum, natural gas, other subsurface fluids and mineral resources.
- To inspire and maintain a high standard of professional conduct on the part of its members.
- To provide the public with means to recognize adequately trained and professionally responsible geologists.
- To advance the professional well-being of its members.
- The purposes and objectives of the AAPG Foundation as stated in the bylaws are:
- To establish a permanent entity to conduct educational, charitable and scientific activities related to or allied with the field of geology.
- To make contributions to any organization described in Section 501(c)3 of the Internal Revenue Code of 1954, with the exception of organizations testing for public safety.
- To conduct research – both directly and through the promotion, assistance, encouragement, support and furtherance of studies and research – in the field of geology and in sciences related thereto.
- To disseminate information relating to geology and related fields through lectures, seminars, publications, educational courses, teaching aids and by other means and materials.
- To carry on programs of continuing education in geology and related studies.
- To assist in career guidance to persons interested in the field of geology or related fields.
- To assist public and private schools (elementary and secondary) and colleges, universities and technical schools in teaching and education in the field of geology and related fields.
- To provide scholarships, prizes, awards, gifts, educational loans and other kinds of support to assist or reward persons engaged in the study of and/or pursuit of the science of geology or related fields.
- To establish fellowships or “chairs” in colleges and universities in order to further education and knowledge in the field of geology and related fields.
- To work with and support (including contributions from the corporation) other organizations with similar objectives that are in themselves tax-exempt educational or scientific organizations under the Internal Revenue Code.
- To support activities of other organizations with financial assistance so long as the activity supported is one in which the corporation, as an organization described in Section 501(c)3 of the Internal Revenue Code of 1954, may engage and the financial assistance is so utilized.
In other news, Stephen Laubach, AAPG’s current Elected Editor, has joined the Foundation Trustee Associates.
He is a senior research scientist at the University of Texas Jackson School of Geosciences in Austin, Texas.
Also, the 34th annual Trustee Associates meeting will be held Sept. 7-11 in Lake Tahoe, Calif., under the theme of “Reaching New Heights.”
Our “Meeting Challenges … Assuring Success” finance campaign has raised $34,974,136 as of early August, and will continue through 2011 with a goal of raising $35 million.
For those who are yet to pay their AAPG dues, this message: Please consider adding a contribution to the AAPG Foundation in your payment.
Or perhaps you are committed to supporting the Foundation’s mission through a bequest or other planned gift. Either way, you can donate or get additional information online or you can call with questions or credit card donations to 1-800-397-4141, ext. 2644.