31 January 2010

non-profit status

If The Global Citizen Project is fully funded by its February 22, 2010 deadline, I will file with the IRS for non-profit 501(c)(3) status. According to IRS Publication 78, charitible donations are retroactively tax deductable for a period of one year prior to the approval date.


tracey minkin said...

what happens if you are not fully funded? what happens to the money people have pledged? do you then carry on as a for-profit enterprise? and is there anywhere that a potential donor can see where you plan to volunteer? and the structure you have in place for your followers to support the causes/projects you plan to support for two weeks at a time?

Charyn Pfeuffer said...

Hi Tracey,

Thanks for your comment. Kickstarter is an all-or-nothing fundraising platform, so if I don't reach the $20k goal by February 22, I do not receive a cent and the project will not happen. Kickstarter works through your Amazon account and places an authorization on your credit card for the amount pledged, but does not charge it until/unless the project meets its fundraising goal.

Here's the general plan for my 12 volunteer projects:

I have also made a one month committment to volunteer in Haiti as one of the 12 projects (most likely instead of reef conservation), as well, as soon as I find an opportunity that my skills are best suited for. I'm guessing in a few months, Haiti will need to start reviving its tourism sector (they were receiving 150,000 tourists/year pre-quake) and that's an area I have expertise in and can help promote.

Also, a few corportations have expressed interest in sponsoring one month of the project and I will work with such parties to decide a mutually agreeable cause.

One of the things I've liked most about this project has been the input from communities and individuals to help determine which projects I'll work with (i.e.; the people of Honduras determined my project there via interacative input via Facebook and ultimately voted for the final project). It's been a very organic experience and I'm grateful that so many people have expressed enthusiasm and have gotten involved with the process.

Feel free to shoot over any other questions!