POUND RIDGE, N.Y. – The Pound Ridge Partnership has become an official public charity. The organization, which was formed two years ago with the primary mission to improve the aesthetics of the town’s business district and to inspire volunteerism, was notified earlier this month by the U.S. Internal Revenue Service that it has qualified as a 501(c)(3) public charity with tax-exempt status.
“This is important because it recognizes under the law that the Pound Ridge Partnership’s work is charitable and for the public good,” said Valerie Price, a board member of the partnership responsible for spearheading the effort to obtain non-profit status.
“It also means that contributions donated to the Pound Ridge Partnership are fully tax-deductible retroactive to Sept. 15, 2010 when it was founded, and that it will be eligible to receive matching grants from organizations associated with such donors,” Price added
The organization is also now eligible to apply for government and foundation grants that will further broaden its access to resources.
Partnership board member James Best said gaining the tax-exempt status was not easy.
“It was an arduous process that took close to two years,” he said. “Every aspect of the organization was scrutinized and we had to provide very detailed information about our activities. We are thrilled to have received the status.”
The milestone comes in just in time to bolster the Pound Ridge Partnership’s latest efforts, which are focused on upgrading the Scotts Corners business district with more environmentally friendly and aesthetically appealing street lights.
“We have joined forces with the Pound Ridge Business Association to create the Pound Ridge Committee for Green Streets,” said Alison Boak, a co-founder and board member of the Pound Ridge Partnership. “Our [tax exempt] status will open many doors for us to expand fund-raising activities and fully realize our goals as a charitable organization, starting with our kick-off dinner at the Bedford Post on Jan. 23 to support the street-lighting project.”
To purchase tickets to the Committee for Green Streets kick-off dinner, contact Terri Pike at email@example.com.
The IRS letter granting the Pound Ridge Partnership its tax-exempt status is available upon request from the partnership.
Donation inquiries can be sent to Pound Ridge Partnership, P.O. Box 402, Pound Ridge, NY 10576 or e-mail firstname.lastname@example.org.
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