The beginning of any major endeavor is always an exciting time, and for those of us lucky enough to be a part of this kickoff of Saving Throw Foundation, we can’t tell you how much we’re looking forward to getting the ball rolling. A lot of things have been happening, and we are going to be releasing regular email updates to let those of you who are interested in supporting our goal of helping families with sick children know where we’re at!
We are already incorporated in the state of Tennessee, and we have also been approved by the Secretary of State to solicit funds as a nonprofit! This is a huge step forward, and allows us to begin raising money for distributions, for fundraisers, and for operating costs.
The next big step for us is to file our application for 501(c)(3) status with the IRS. For those of you who don’t know, this status will make us a tax exempt organization, and will ensure that every donation we receive will be tax deductible. We in the board of directors elected to forgo the new 1023-EZ application process, which lacks the rigor we feel is necessary to ensure a compliant organization. Instead, we’ve obtained the assistance of Foundation Group, a compliance company here in Nashville with decades of experience helping nonprofits become compliant and obtain their tax-exempt status. Foundation Group has generously offered their services as a donation to Saving Throw Foundation, and we’d like to thank Greg McRay and the rest of the outstanding team at Foundation Group for working so hard to get us started on the right foot! As of today, our application has been sent to the IRS, so now we're just waiting for it to be reviewed and approved by the IRS.
The board of directors has had several meetings, and the minutes from those meetings will soon be available to download from our website. The biggest decision made was a unanimous vote that a minimum of 50% of every donation will be held in reserve, and used exclusively for paying the medical bills of a sick child. In today’s climate, it’s important to us that you know that your donation will go towards supporting the children and families in need. All expenses of the organization will be accounted for and made public, and the 50% is only a minimum. We will take every step to minimize our operational costs to make sure that every penny possible goes to those who need it most. You can read more about this in our Statement of Financial Commitment.
We’ve added a new board member! Quentin White is a law student here in Nashville, Tennessee, and has experience working with several nonprofit organizations. His experience and personal drive to give back to his community were a perfect fit for our organization, and on October 28, 2017, the existing board voted unanimously to name him our new vice-president. In this role, Quentin will help coordinate our fundraising efforts, and will work to help establish our organization within the Nashville community.
So what comes next? We have quite a few ideas, and we need support to make them happen.
Our first major fundraiser will be held in mid-to-late February. We’re looking for a location right now, so any suggestions would be invaluable. This will kick off our main fundraising efforts, and we hope that each and every one of you will join us. We will announce the date and location as soon as possible.
If you’re interested in hosting a fundraiser on behalf of Saving Throw Foundation, please email us at email@example.com! One of us will reach out to you as soon as possible.
Thank you for joining us in this effort. The next few months are going to be busy and exciting, and we can’t wait to show you what comes next!