Financial Assistance - A Tax Benefit

[Greg]

Since "General" is locked to help stop the spam, this seemed like the next logical place to put this.

I've recently discovered a way to open a 501c3 "project" that is under a 501c3 company (if you don't know, a 501c3 is a non-profit so that when you give them money you can use that as a deduction on your taxes). What does that mean to you in coping? This:

You can set up a medical 501c3 project so that your friends, family, etc can donate money to that project, and it is a tax deduction for them. So, if they donate $50 per month to some charity, maybe they'd choose to donate that to your project instead AND they still get the same tax benefit.

I have filed our triathlon as a 501c3 project to raise money for cancer. Within a few weeks, I'll know how that goes. If that is what they say, I'll file one for my family as well. We've had a lot of people help us so this would help them.

To learn more on your own, go to oceangrand.org. I've spoken at length with the CEO of the company. It cost $285 to set up, then they keep 3.5% of everything you bring in. But, they also handle all of your yearly filings, accounting, banking, etc. so that you stay in compliance with a 501c3. However, you do not need a board of directors, by laws and all of the other hassles of setting up a 501c3.

Guys, we've had people help us that don't even know us. This makes it better for them and helps you too as people may give more if they know its for 'charity'. Also, as a 501c3 you can look for grants, corporate support, etc which could be bigger checks. Ocean Grand can help with that stuff too.

I get nothing from OG for telling you about this. It looks like a great deal for anyone in our crappy situations so wanted to share it with you. If you have questions, feel free to send me a PM or post here.

Greg