Floyd Times achieves nonprofit status
The official ruling from the IRS was received Feb. 11 and stated Floyd Media is considered a "public charity" under Internal Revenue Code Section 170.
Floyd Times Community News, owned by Floyd Media LLC, has received its official 501(c)(3) status from the Internal Revenue Service. This means that donations made to the newspaper in any amount are tax deductible.
Subscriptions started at $5 per month or $50 per year are not tax deductible; however, any amount above $5 per month or $50 per year are. Example: A $15 per month subscription includes a $10 donation that is tax deductible; a $150 per year subscription includes a $100 donation, which is tax deductible.
Our store offers a selection of lumber, roofing material, insulation, plumbing fixtures, electrical components, and conveniently located five minutes outside the town of Floyd.
The official ruling from the IRS was received Feb. 11 and stated Floyd Media is considered a "public charity" under Internal Revenue Code Section 170.
We're in the process of updating our website to reflect our new status, which includes adding our Employer Identification Number to our "About" page.
The mission of Floyd Times is to inform and connect the people of Floyd County and surrounding regions. We deliver local news to power civic engagement and highlight a wide range of community voices.
Supporters can access all content, as they champion Floyd Times in fulfilling our core tenet of being locally driven. Donations directly support every story we publish.
This article has been updated to include additional details about subscriptions and donations.
