cpc0506 Posted September 25, 2019 Report Share Posted September 25, 2019 We are working through our list of clients that need the PPA restatement for their current documents. I have come across a plan for a Boys and Girls Club. I know that 'nonprofit recreational clubs' are tax exempt but cannot sponsor a 403b plan. Would a Boys and Girls Club fall under this definition of 'nonprofit recreational clubs'? Does anyone reading this blog have Boys and Girls Club as a client who have a 403b plan? Or is it enough that the Form 990 reflects the company as a 501(c)(3) organization? Thanks for any guidance you can provide. Link to comment Share on other sites More sharing options...
Luke Bailey Posted September 25, 2019 Report Share Posted September 25, 2019 cpc0506, if it's a 501(c)(3) as reflected on its For 990, it can have a 403(b) rr_sphr 1 Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034 Link to comment Share on other sites More sharing options...
Patricia Neal Jensen Posted September 25, 2019 Report Share Posted September 25, 2019 As usual, Luke Bailey is correct! I know of no reason that a 501(c )(3) cannot have a 403(b) plan. You might ask for a copy of their 501(c)(3) exemption letter if you have some reason to doubt the 990. Also, just for fun, I googled "Boys and Girls Club 403(b)" and at least a dozen of these showed up. PNJ rr_sphr 1 Patricia Neal Jensen, JD Vice President and Nonprofit Practice Leader |Future Plan, an Ascensus Company 21031 Ventura Blvd., 12th Floor Woodland Hills, CA 91364 E patricia.jensen@futureplan.com P 949-325-6727 Link to comment Share on other sites More sharing options...
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