I want to thank everyone who participated in our recent fundraiser. We raise over $1,000 to purchase schoolbooks for needy children. God is good and has supplied this need.
The fundraiser is over and has been deleted from youcaring.com so references to it have been deleted so that we don't have a bunch of broken links.
Proverbs Three Nine Foundation received its 501 (c) (3) status today. All contribution to the fundraiser for schoolbooks listed below and any other donations are tax deductible! Should you donate for any cause, you will receive a receipt via email verifying your contribution and its tax deductible qualification.
Having jumped through all the hoops to get set up as a corporation and getting all the financial accounts set up, today we have now officially submitted our application to get 501 (c) (3) status. When approved this means that any donations will be tax deductible at the 30% rate for a private foundations. The process was available online and was quite easy to submit. It took much longer to read all the instructions and fill out the form verifying that we could do it online. Now we wait and see how long it takes to get the approval.
The timing on the financial accounts didn't turn out the way we expected. The financial institution informed us that they did not support bill pay for corporations. Wow! what a surprise since you had to dig through many web pages to discover this. With that delay we decided to go with a local credit union. They also had all the necessary forms and applications online. This is not advisable if you are in a hurry. They required an upload of documents and it took a couple of days to review them. Then there was the online signatures. We didn't get any notifications so that took a phone call. Sign our names on a kindle, then sent the signature to my PC via email and then cropped it for the size they wanted. Yes, I could have used their default signature, but it looked like a sixth grader printed it. So now we have our accounts set up. Praise God. Next - 501(c) 3 application.
We are in the process of setting up financial accounts for the corporation and providing initial funding. We are doing this with an online financial institution. We mailed the paperwork in on the 16th and they started processing it on the 18th. We started getting emails from them right away. However, it will be another few days before the checking is set up and able to use it. We are wondering how the timing will work out, but we know it will be in God’s timing.
We are starting up a non-profit to be able to leave a legacy of giving to advance the Gospel of Jesus Christ long after we are gone. We have prayed about this for years but now seems like the time to get started. We thought it would be good to have the corporation started on leap day but the official start date is when the state files the article of incorporation. So we sent it in February 23rd and their website said they were busy and to expect a wait of 25 days. We were very pleased to get the paper work back on March 14th and our filing date was - February 29, 2016. So here we go.