Foundation's nonprofit status

Rolland Petrello's letter in last week's Moorpark Acorn made incorrect statements regarding the tax-exempt status of the High Street Theater Foundation.

As an attorney specializing in nonprofit and taxexempt organization law, I assisted the High Street Theater Foundation in obtaining its taxexempt status.

The IRS has recognized the tax exempt status of the High Street Theater Foundation effective from the date of its incorporation, Oct. 8, 2004. Contributions made to the foundation from Oct. 8, 2004 forward are tax deductible to the extent permitted by law.

I would also like to note that it is quite common for nonprofit organizations seeking tax exempt status to begin their operations prior to a determination from the IRS, and to have the status applied retroactively once it has been recognized.

It is important to clarify that the High Street Theater Foundation has not misrepresented its tax exempt status. Mr. Petrello's assertion to the contrary is incorrect. Patrick Sternal Runquist & Associates