SOUTHEASTERN SWIMMING COVID-19 CLUB RELIEF PROGRAM
The Southeastern Swimming Board of Directors met on April 5 to discuss the financial impact of the COVID-19 pandemic on both the LSC and our clubs. The following proposal was passed:
Each USA Swimming club registered with the Southeastern LSC shall be eligible to receive funds as prescribed by a formula which takes into consideration a percentage of previously paid Southeastern Swimming registration fees, meet surcharges, and meet sanction fees.
Furthermore, all nonessential spending by the LSC, even if currently budgeted, shall be curtailed through August, 2020. Essential spending (primarily office expenses and SES Championship awards, if needed) will continue with an eye toward sound fiscal management. Any deviation from this policy must be approved by the Board of Directors.
Eligibility and procedures for receiving Relief Fund monies:
1. Club must be registered with the Southeastern LSC as of March 5, 2020.
2. An authorized representative of the club must fill out and submit the Southeastern Swimming Club Relief Form. This is an online form and can be accessed HERE
3. The club must have on file or submit a fully completed and signed Federal W9 form. Please note: If your club is a 501(c )3 organization, that should be designated on the W9 Form on Line 3 – Other.
A list of clubs who currently have completed W9 forms on file with the LSC, along with the dates they were completed and their not-for-profit status, can be found HERE
Clubs needing to submit a new or updated Federal W9 Form can access the document HERE
The completed W9 form should be sent to: Chris Coraggio, LSC Treasurer, 1 Saddlebrook Lane, Johnson City, TN 37615. A pdf file copy can be sent via email to firstname.lastname@example.org
4. All funds must be used to pay expenses which are in support of Southeastern Swimming's tax-exempt purposes and mission.
5. Any tax consequences of receiving funds are the responsibility of each individual club. While consulting with your tax professional is recommended, a general outline of possible tax consequences are stated HERE.