OK. Here’s an update on the status of the daunting application known as IRS Form 1023. I am pleased to report that it is nearly complete. The issue I wrote about earlier has been cleared up (It cost me an additional $25 to file an amendment with the State of Colorado – file that in the “oh well” category).
Anyway, my mentor from SCORE has been worth his weight in gold, and we have just a few pieces left to put in the puzzle. There is no way I could’ve done this without him. If anyone out there is starting a business, or needs any type of business advice (non-profit or otherwise), you would do well to look into finding a mentor from SCORE. It’s hard to argue with decades of experience, especially when you’re in it deeper than your snorkel.
I hope to get the thing mailed out this week, and then it’s a bit of a waiting game, but the overall idea is that the IRS (perhaps following some back and forth question and answer) will issue a “Letter of Determination.” This will allow the Great Plains Trail Alliance to function as a tax exempt organization, and we will be able to accept donations as well as apply for grants. Pretty exciting stuff. And that’s not often said within the same paragraph as the letters, IRS!