¨ 501(c)3 Filed
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¨ 501(c)3 Filed
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A critical step of the Foundation's startup is the filing of federal government's tax-exempt status forms. In order for the Foundation to be exempt from federal and state taxes, and for donations to the Foundation to be tax deductible, the Foundation must file for exemption under 501(c)3 of the IRS tax code. This application process requires the assembly of many documents, including a budget and budget projections, governance documents, plans for services and other documents needed to show the purpose and direction of the Foundation. While a major task to accomplish, going through the process of applying for 501(c)3 status indirectly serves as a tool for startup planning. This step is currently IN PROGRESS.
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