Wednesday, February 11, 2009

The 501(c)(3) Saga Draws to a Close...

Today SunPower Afrique filed its 501(c)(3) Tax-Exempt Status Application with the IRS! With 501(c)(3) status, all donations made to SunPower Afrique will be tax-exempt.

This is a very exciting day, and my lawyers have informed me that we should hear from the IRS within a few months. We have worked long and hard on this application and are confident that we will get a favorable determination.

HOWEVER, all donations made to the organization at this time are tax-deductible since we submitted the application within 27 months of the date of incorporation (as long as we submit it within 27 months and the organization is eventually granted 501(c)(3) status, regardless of how long it takes for that to come through, deductibility is retroactive to the date of incorporation.)

In other developments, I have created a Facebook page for SunPower Afrique and, as soon as we are granted our 501(c)(3) status, we can start raising money on the Facebook! This is a great opportunity for both fundraising and networking.

You can find it here:
http://www.facebook.com/profile.php?id=1397320930&ref=name#/pages/SunPower-Afrique/52677941699?ref=ts

You should all go and become fans!

I am also working with web designers on revamping the SunPower Afrique website and should have the new and improved site up within a month or so.

Stay tuned...