Monday, May 16, 2011

Game plan while back in los EEUU

After a conversation with the director of Escuela de los Amigos, I've learned that there is a way to fundraise without any money being lost to a middle-man. Here's the process:

  1. Set up a 501(c)(3) organization in the U.S. 
  2. Create an account for this organization on universalgiving.org
  3. Spread the word about both organizations to help collect funds
  4. After funds have been collected, have the Costa Rican organization apply for a grant from the U.S. 501(c)(3)
  5. Request that the 501(c)(3)'s bank transfer the approved amount of money to the Costa Rican organization's bank account
  6. Include transaction on 501(c)(3)'s tax return
  7. Repeat steps 3 - 6
For information on how to set up a 501(c)(3), watch this video with creepy men who have no pupils: http://www.stayexempt.irs.gov/

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