I am a member of a bike club in existence for 26 years. We have filed as a non-profit with our state. We have no paid members/officers and a few bike shop sponsors whose contribution to our club is less than 10% of income.

We want to run a charity ride, the proceeds of which we will donate to our local Ambulance Squads. We may keep some of the money to seed the following year's ride, but will not use it for any other club activity.

Are we by default (not formally declared) a 501 c 7 organization?

Are there any limitations on the amounts of money we derive for the ride, e.g. from non-member, commercial sponsors who contribute to the support of the ride, etc.

What forms do we have to file with the IRS and when?

Any other pitfalls?

J

Besides churches, I am not aware of any other "default" on profit group. You have to make formal application to and be accepted by the IRS as a non profit to formally be one.

So the first question what is your official legal status.

We have never formally applied for 501 c 7 status, only Non Profit status to our State.