Steamboat Springs Routt County Riders was tagged with tax-exempt status this month after applying with the Internal Revenue Service late last year.
Paul Strong, a certified public accountant in Steamboat who filed the paperwork for the club, said the move is the next logical step as the club grows to help promote cycling in Steamboat.
“Having the IRS recognize that it’s a formal organization dedicated to charitable and educational activities gives us that stamp of credibility in the eyes of many of our partners,” Strong said.
The tax-exempt status is likely to help the club’s fundraising efforts. Donations to the group will now be tax-exempt, making it easier for people to give and for organized events to send collected funds to the group.
The status allowed the club to buy mapping software at a discount as it prepares to release a comprehensive bike trail map for the region. It also increases the club’s chances at landing grants to help fund work on trails and other bike awareness efforts in the area.