We recently received some very exciting news â€“ Jolkona Foundation has oficially been approved as a 501(c)3 organization. This means that going forward all of the donations that we receive from you will be eligible for tax-exemptions. Even more importantly â€“ every donation we have received so far is also eligible for tax-exemptions now. 🙂 The 501(c)3 status will also allow us to be eligible for matching programs at various corporations.
We were expecting this approval to come around April or May of 2008. Of course it is very exciting that we have received the approval within 4 months of our application (usually it takes 8 â€“ 10 months), but, it also means that our plans have to be adjusted too. For example, we were expecting to launch our website after getting the approval, but, now we are scrambling to get it launched as quickly as possible.
Again, we are very excited with the news and are looking forward to the challenges of the next few weeks.