We’re now officially tax-exempt!

This past week we heard back from the IRS – after almost two years of being a state-recognized nonprofit corporation, we are now also federally recognized as a public charity.

Our reasons for hanging onto the in-between status of being incorporated but not tax-exempt were due to limited volunteer time and energy – organizing a board and following up on tax reporting is just more work when you’re an exempt organization, and we weren’t in a position to chase the bigger grants that would’ve made it worthwhile. Having been simply incorporated with the state, we could have a bank account, sign a lease, and receive electronic donations as an organization; that suited us then. Now with recognition as an exempt organization under section 501(c)(3), we are eligible for many more partnerships, funding opportunities, and any donor who wishes may write off the value of their donations from their personal or business income taxes.

This opens quite a few new doors, and we are excited to start knocking! Rest assured, it doesn’t change the spirit with which we serve Pueblo – we are still here for the needs of those on the margins, no matter how organized we get.

Thank you to all who’ve helped along the way!

-The GCBB Team

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