Whoo-hoo! I checked the State of Michigan corporate entity search and Library Access Foundation is listed!
That means the Articles of Incorporation are on their way back, with a nice big stamp stating “Filed.” As soon as I have a copy in hand, we can open our nonprofit checking account. The FEIN has already been established, which was the only other item we needed for the checking account.
As soon as the checking account is established, the GoFundMe campaign, which exceeded it’s $500 goal by $50 will be closed. The funds will be deposited it into the checking account.
Now comes the hard work. Library Access Foundation 501(c)(3) status with the IRS in order to make sure your donations are tax-deductible and increase our chances of getting grant funding. The first thing I have to do is figure out exactly how much income the Foundation expects to receive in a year, because that determines the type of IRS form I need to file, as well as the application fee.