Friday, August 27, 2010

Mike Russo Civic Association- Should it be tax exempt?

This year the Russo Civic Association got a face lift (or a face off) and a new name, The Michael Russo Civic Association. Their website which appears a bit outdated  http://www.russocivic.com/ states:

"The Russo Civic Association has touched thousands of lives and has proved the most enduring Social and Recreational non-profit organization in the City, providing opportunities 12 months a year with an entirely volunteer base and self-raised budget. The Civic Association receives no government or foundation funds and relies entirely on the community and member donations. Membership in the Civic Association costs $60.00 a year for a family. All activities provided by the Civic Association are FREE."

Here are some recent photos of the organization's HQ at 420 Adams Street:

Michael Russo Civic Association at 420 Adams Street

New featuring Michael Russo installed this year.
Question: Even though this is a volunteer organization that has provided support to the community for 30years, should this organization be tax exempt given that it has been used as a political office for many campaigns over the years? Now I am not saying it is declared as tax exempt entity but if it was, would this create a problem by blurring a volunteer organization with a political one?

A look up of the tax records on the property indicate that the property changed hands about two years ago from Hoboken Wave LLC to Nicola and Julie Fuccilli of Waldwick, NJ. My information has it that plans are possible for a knockdown of the property and a rebuild. At some point in the future this would likely go before the zoning board. If this is true I wonder if such plans would put an end to the association that has "has touched thousands of lives and has proved the most enduring Social and Recreational non-profit organization in the City" (according to their website).

Here are the owners via the NJ tax database:

The current assessed value is $220,000 and it is no longer owned by the Russos or their LLC Hoboken Wave:

2009-2010 FUCCILLI, NICOLA AND JULIE
46 EVERGREEN STREET
WALDWICK, NJ 07463

2007- 2008 HOBOKEN WAVE, LLC
420 ADAMS STREET
HOBOKEN, N J 07030

Hoboken Wave? Neat name for an LLC don't you think. ◦
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Posted by Hoboken Resistance at 12:50 PM

Comments (7)

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ss1959's avatar

ss1959 · 761 weeks ago

Not exactly sure on the legality. But if it's a 501C-3 registered charity and they do charitable work it's probably ok. You would have to prove that they do other work, such as a campaign office (in my opinion) to revoke that exemption.
2 replies · active 761 weeks ago
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Katie_Scarlett's avatar

Katie_Scarlett · 761 weeks ago

I wish the IRS would stop by and look over the "Civic Associations" books. They could revoke the charity status and be done with it.
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Colin's avatar

Colin · 761 weeks ago

Seriously. I wonder where that $60 fee goes. Forgive me for not trusting them, given the various scams such as the $5 a tow that they did to this town

And when is this town going to go after the 300k Anthony Russo owes??
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Gardiner4Hoboken's avatar - Go to profile

Gardiner4Hoboken 90p · 761 weeks ago

Anthony Russo was ordered to pay back $300K on a schedule by a judge. I don't know the schedule offhand or the status of payments to be made.
1 reply · active 761 weeks ago
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Colin's avatar

Colin · 761 weeks ago

I remember him claiming that he was broke and lost all his money gambling. Plus when you sell your shore house to your relatives for a dollar that won't help solve your debt problem.

Of course if he has paid it back I would thoroughly apologize to the Russo's. I would be the first to say, "Hey Russos you guys aren't so bad after all. When you plead guilty to crimes and are given stiff fines for your many crimes, you guys are good at paying those fines in a timely manner. I look forward to your future plea bargains and prompt payment of future fines."
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redraven's avatar

redraven · 760 weeks ago

The Russo Civic Association is likely a 501(c)(4) which is tax exempt but contributions to it are not tax deductible. It is clearly not qualified legally to be a 501(c)(3) because of their political activities. They don't seem to be claiming that contribution to it are tax deductible only that the organization is tax exempt so there is no misrepresentation.
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manolo's avatar

manolo · 760 weeks ago

The mere mention of Russo family involved in a non-profit is the most fraudulent utterance ever. Those schmucks should be thrown out outta town on a rail.

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