Alpha Funds: Jumpstarting New Causes
People like to move fast when it comes to solving problems in their community. As issues arise, individuals come up with ideas to tackle them. It is important for organizational leaders to maintain momentum and raise the funds needed for their new cause.
But there’s a practical problem. It takes time to file the necessary paperwork and receive recognition as an official non-profit organization. Technically, funds donated to your organization aren’t a tax-deductible donation until you receive your IRS determination letter officially declaring you to be a 501(c)(3) tax-exempt entity.
The Generosity Trust created Alpha Funds to help jumpstart new Christian ministries in the Chattanooga area. As an Alpha Fund, ministries seeking non-profit status may receive tax-deductible donations under the umbrella of The Generosity Trust. This is a practical way we can support new efforts and enable them to make a more immediate impact in the lives of others.
The first organization to become an Alpha Fund was First Things First, now a well-established non-profit that strengthens relationships. Over the years, we have had many opportunities to nurture organizations during their earliest days, like the MOMentum Network and Homes and Havens. Both are vital organizations that serve women and children and make a significant difference in the lives of others. Other former Alpha Funds include Chattanooga Faith+Work+Culture, which brings ministries together to address critical issues in our community; Disciple Making Mission, which commissions prison inmates to disciple other inmates; and 7th Well, which helps survivors of sex trafficking find restoration from their past.
Alpha Funds are essential yet temporary. Once organizations receive their IRS determination letter, the service is no longer needed. To date, we’ve helped many successful non-profits get started through the Alpha Fund. Even now, we have Alpha Funds for organizations addressing poverty, education, child development, and other significant community challenges.
Learn more about current Alpha Funds here.
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