The Fund received confirmation from the Internal Revenue Service today that our tax-exempt, charitable status has been approved. We’re thrilled!
To honor the moment, we thought we’d share a few thoughts about all the work this involved. In the past year or so, here are the major tasks we’ve undertaken:
- Draft business plan, incl feasibility/competitive analysis. budget, registration timeline, fundraising plan
- Reserve domain & build website
- Recruit board members
- Draft articles of incorporation & bylaws
- File articles of incorporation with state
- Prepare registration paperwork (including Statement of Information w/in 90 days of filing articles of incorporation)
- Set up calendar – file Statement of Information w/ Sec of State of CA every 2 yrs, tax filings, etc.
- Build advisory board
- Draft Conflict of Interest policy
- When Articles of Incorporation are approved, file with Attorney General’s Registry of Charitable Trusts
- Apply for EIN
- Get a PO box
- Open bank account
- File for tax exemption with IRS