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Saint Monica University Gets Non-Profit Status in the United States

Ability to Receive Tax Deductible Donations to Improve Fundraising Efforts

 
PRLog - Aug. 14, 2014 - BUEA, Cameroon -- Saint Monica University (SMU): The American International University today announced that the United States Department of the Treasury has recognized the University as a non-profit organization with the ability to receive tax deductible donations in the United States. The letter from the Internal Revenue Service (IRS), Department of the Treasury, was dated August 6, 2014, but stated that the effective date of the exemption is March 28, 2012, when SMU was founded in the United States.

The IRS letter signed by Ms. Tamera L. Ripperda, Director of Exempt Organizations with the IRS, stated that upon review of the SMU application for tax exempt status, “we have determined that you are exempt from Federal income tax under section 501 (c) (3) of the Internal Revenue Code. You are also qualified to receive tax deductible bequests, devises, transfers or gifts under section 2055, 2106 or 2522 of the Code.”

“We’re very delighted that Saint Monica University has been recognized as a non-profit organization in the United States,” said Prof. Januarius J. Asongu, President and Chief Executive Officer of SMU. “The IRS has determined that SMU is a United States public charity and this gives us the ability to receive charitable gifts in kind and cash. With this recognition, SMU plans to begin a fundraising campaign in the United States as the University is already positively affecting the lives of people in the United States who are attracted by our quality programs as well as our affordable fees.”

SMU qualified for the tax deductible status on the basis of being a bona fide institution of higher learning in the United States. It should be noted that the University operates in the United States as an online institution, but with plans to launch on-campus programs soon. At the moment, all SMU on-campus programs are located in the Buea campus in Cameroon, a beautiful and peaceful African nation at the crossroads of West and Central Africa. Known as Africa in miniature, Cameroon is the ideal location for anyone interested in understanding Africa. SMU currently has students, staff, and faculty from 13 different countries and offers bachelors, masters, and doctoral degrees to traditional and non-traditional students studying either online or on-campus.

About Saint Monica University: The American International University
Saint Monica University (SMU) is an American-style private Christian institution, offering programs that are at the intersection of the liberal arts, science and technology. It is dedicated to providing educational opportunities for the intellectual, social, entrepreneurial and professional development of a diverse student population. SMU is focused on the student experience and helping our students achieve their educational and career goals, and contributing to a more sustainable society.  We offer various bachelor's, master's, and doctorate degrees through the School of Arts & Education (SAE), School of Business & Public Policy (SBPP), School of Health & Human Services (SHHS), and School of Science, Engineering & Technology (SSET). SMU is accredited in the United Kingdom by the Accreditation Service for International Schools, Colleges, and Universities (ASIC) with Accreditation No: AS22357/0614. SMU is also fully accredited in Cameroon by the National Commission on Private Higher Education at the Ministry of Higher Education with the Ordinance of Creation No: E14/0028/MINESUP/SG/DDES and the Ministerial Letter No: 14/01319/L/MINESUP/SG/DDES/ESUP/SDA/OAGS authorizing its operation. For more information about SMU, visit our website: www.smuedu.org or write to us at admissions@stmonicauniversity.com.

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Source:Saint Monica University
Location:Buea - South west region - Cameroon
Industry:Education, Finance
Tags:Saint Monica University, non-profit, cameroon, american university, SMU IRS
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