501c3 Tax Exempt Status
By Tom Bode, President
UPDATE (8/20/2014): We have received our determination letter from the IRS stating that our 501c3 status is official!
World Scholarship Initiative is now treated as being a 501c3 tax exempt public charity! We have submitted our application to the IRS and while it is pending, the organization is treated as tax exempt, per IRS policy. We will issue receipts for donations that list our organization as a 501c3 organization, meaning that donations are tax deductible, unless our application is ultimately rejected. I don’t know how long it will take the application to be approved, especially considering we submitted the application the week after the federal government re-opened. However, I am confident that our application will be approved.
This is great news for World Scholarship Initiative, since 501c3 designation serves as a seal of authenticity of the legitimacy of our organization and our cause. The timing is excellent as well. We are pushing to increase fundraising levels from now until December, when we will decide how many additional students to offer scholarships to. There are several promising students on the horizon and I would love nothing more than to be able to give them the chance to go to the secondary school that they deserve. Can you help us out?
P.S. Think about giving a gift to World Scholarship Initiative in someone’s name this Christmas season. We will present them with a card and an explanation of the organization. More information to come.