Our Community Foundation has announced that the organization recently received notification from the Internal Revenue Service (IRS) with a determination of status as a 501(c)(3) public charity. Donors can now deduct contributions they make to Our Community Foundation and Our Community Foundation is qualified to receive tax deductible bequests, devises, transfers, and gifts.
“This is another significant achievement as Our Community Foundation fulfills the requirements of the separation plan agreement with the Community Foundation Alliance,” says Joe Singleton, President of the Board of Directors.
In November 2021, 18 local leaders announced a plan to bring management of the Daviess County Community Foundation, an affiliate of the Evansville based Community Foundation Alliance, Inc. to Daviess County. The plan requires several components to separate from the affiliation agreement, including establishing a new community foundation in Daviess County, obtaining 501(c)(3) status as a public charity, and achieving National Standards Accreditation for Community Foundations.
“We sincerely appreciate our donors in this effort,” added Singleton. “We believe this IRS determination will further our fundraising efforts and enhance the Foundation’s ability to build endowment and award grants to improve the lives of people in Daviess County.”