FAST-Aid Receives 501(c)3 Approval from IRS
All Donations Confirmed Tax Deductible
MESA, AZ – AUGUST 7, 2012: FAST-Aid’s Federal Tax Exempt status has been approved by the Internal Revenue Service issuing a 501(c)3, identifying all contributions made previously, and going forward, as tax deductible donations and designates FAST-Aid as a public charity. The application packet totaled nearly 100 pages including the mission statement, financial information, proof of activities and supporting documentation dating back to the inception of FAST-Aid in efforts to qualify as a charitable organization serving the off-road community. “We were warned by Certified Public Accountants and other charitable organizations about this scrutinizing process that typically drags on for months or even years,” said Jared Tetzlaff, Fast-Aid President. “All of us on the board of directors were confident in our integrity and transparency, as well as the great things we have accomplished in our relatively short existence. Needless to say, we were ecstatic when we were notified that the IRS recognized our activities as being in compliance and granted full tax exemption for all financial activity effective back to October 2009…and all that without any further inquiry or analysis!”
FAST-Aid is a non-profit organization that accepts donations of any size at any time, not just in response to a specific event. The ability to respond quickly to people’s time of need depends on the “Pay It Forward” philosophy. “Those who have donated before an accident enable us to have funds on hand to help someone sooner than later and be proactive instead of reactive,” said Tetzlaff. “We are so grateful for all the support we have received thus far and look forward to the new and exciting opportunities that this designation provides moving forward.” Having the 501(c)3 will broaden opportunities including more corporate contribution matching programs and gifts, among other possibilities. As always, consult your own tax advisor regarding tax benefits received for donations to a non-profit organization.
To summarize confusing tax-law talk, a 501(c)3 is the IRS code for a Public Non-Profit Charity Organization that is allowed to and recognizably accepts tax deductible donations. The IRS received FAST-Aid’s application within 27 months of formation in accordance with Federal Tax Law. Without any further inquiry or analysis, FAST-Aid was notified that the IRS recognized the activities as being in compliance and granted full tax exemption for all financial activity effective back to October, 2009.
For information on how to donate, visit http://www.fast-aid.org/donations.html or e-mail firstname.lastname@example.org. You can also keep up to date with what FAST-Aid is doing, who we are helping and what events we will be attending on Facebook at http://www.facebook.com/fastaid. FAST-Aid is a non-profit organization dedicated to providing financial, educational and personal assistance to injured racers, support teams and their families as well as ensures the necessary support is in place to complete a thorough recovery and rehabilitation from motor sports racing incidents.
About FAST-Aid – FAST-Aid has been helping the off road racing community since April 2009 and has been called to assist in many different circumstances. The board consists of eight racers, crew members, community and industry supporters. FAST-Aid a non-profit organization with the sole purpose of supplying financial and emotional assistance to off-roaders injured at racing events. http://www.fast-aid.org. FAST-Aid is preparing CPR/First Aid class dates for 2012 and has a long-term future dedicated to providing financial, educational and personal assistance to injured racers, media and pit crews. FAST-Aid is a non-profit that accepts donations of any size at any time, not just in response to a specific event. Tax Deduction receipts are available. http://www.fast-aid.org/donations.html