501(c)3 Status Granted!
What does that mean? 501(c)3 refers to the section of the IRS code that has to do with charitable giving. It means that the IRS has determined an organization is tax-exempt by virtue of its charitable programs, and that donations to the organization are tax-deductible.
Before it grants tax-exempt status, the IRS does an extensive review of the organization’s governance, programs and structure. The application is long, detailed and complex. In order to qualify, charitable non-profit organizations must adhere to strict regulations. They must be set up
No part of the activities or the net earnings can unfairly benefit any director, officer, or any private individual.
All assets are permanently dedicated to a charitable purpose.
Intervention in political campaigns or the endorsement/anti-endorsement of candidates for public office is strictly prohibited.
Once the IRS receives the application, it has 90 days to review it and either approve it or ask for more information. Happily, we received notification that we were approved within 60 days of submitting our application package. And, we noted, the letter was received from the IRS on the 1-year anniversary of the date the Camp Fire was officially “contained”.
It’s a difficult and time-consuming process to obtain this special designation from the IRS, but we want to do everything “by the book”, to make sure that we are operating with the highest integrity in all we do.