CRBP is still a 501-c-3 Nonprofit org!
Despite the recent ruling by the State of Indiana’s Tax Board which decided that the Chain Reaction Bike Shop will have to pay property taxes to help support Indiana’s state budget, Chain Reaction Bicycle Project, Inc., and the Chain Reaction Bike Shop remain a federally approved 501-c-3 nonprofit charitable organization.
As a 501-c-3 nonprofit, all contributions made to Chain Reaction Bicycle Project or the Bike Shop are tax deductible as allowed by law. In particular, donations given to this organization which are not in exchange for parts or services may be tax deductible as allowed by law.
Board member, Phil Mason, said, “…the recent denial (of the property tax exemption) sets a very high bar for anyone seeking an exemption, but what it also sets up is an unequal reality for those organizations that got their exemption before this tax court’s practices went into effect and those that did not. Using the tax court’s logic, what church would be able to maintain their property tax exemption? Doubt many of them would be able to prove they are doing something that relieves the government of spending money. The use of large hospitals as an example is interesting too. They are multi-million $$ entities not quite on the scale we are.