The Screenwriters Colony is a nonprofit corporation that was founded in 2002 under the laws of the state of New York. It is a 501(c)(3) tax-exempt organization.

The Internal Revenue Service has certified that The Screenwriters Colony is not a private foundation as defined in Section 509(a) of the Internal Revenue Code as revised in 1969, and that the Colony is an organization described in Code Section 509(a)(2). Consequently, all gifts and bequests to the Colony are fully deductible for income and estate tax purposes.