[HOT] HOT is Now Tax Exempt in the US
kate at maploser.com
Fri Mar 1 01:00:47 UTC 2013
We received some very good news today. HOT received notification from
the Internal Revenue Service (IRS) of the United States that we have
been approved and are now a 501(c)(3). 501(c)(3) status is a tax
exempt status in the United States. We had applied back in November
with the assistance of a lawyer to obtain this status. This was one of
the goals from the strategic planning process carried out by the board
This status makes us exempt from federal taxes in the United States.
There are also additional benefits. People and organizations that
donate to us now are able to deduct their donations from their own
taxes as well. This makes us eligible for a variety of corporate
donation programs we were not previously. There are also fondations
that require organizations to have this status to apply for grants as
So this may seem like a bureaucratic, administrative thing (which it
is), but also it i will give us more resources to continue to do all
the work that we are currently doing and more!!
Thank you everyone for volunteering with us, without your help we
wouldn't have a purpose and there wouldn't be much point in applying
for things like this.
For those more interested in the status the Wikipedia article has some
more details: http://en.wikipedia.org/wiki/501(c)_organization
More information about the HOT