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Is Trek230 a registered non-profit organization? Are sponsors and benefactors eligible for tax deductions?

April 26, 2017benefactors eligible non-profit organization registered sponsors tax deductions trek230

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Is Trek230 a registered non-profit organization? Are sponsors and benefactors eligible for tax deductions?

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Unfortunately, Trek230 is not a registered non-profit organization. Thus, our benefactors are not eligible for tax deductions. This is due to the lengthy process required by the IRS to become a recognized 501(c)(3) organization. In addition, Trek230 will be responsible for paying income tax on its received donations. We are looking into partnering with several companies in order to change this, allowing all donations to be deductions.