Lift Up the Vulnerable (LUV) is a registered New York not-for-profit corporation that has applied for exemption under Section 501(c)(3). We anticipated receiving an IRS determination letter by January 2019, however due to the US government shutdown that process has been delayed by another 60 days. When our organization ultimately qualifies for exemption, the exemption will be retroactive to LUV's date of formation in September 2018 and any charitable contributions will be tax-deductible by the donor.
LUV takes financial accountability seriously. LUV will pursue ECFA (Evangelical Council of Financial Accountability) accreditation after our first fiscal year end in 2019. From day one we follow the same best practices already established by the ECFA and are meeting or surpassing all standards required for their seal of responsible ministry stewardship and financial accountability. LUV has a CPA with several years in the not-for-profit sector serving as our CFO and we will voluntarily submit to an annual third-party review or audit.
We will provide year-end tax receipts intended to confirm tax-deductibility as it applies for U.S. income tax purposes once we receive our 501(c)(3) determination letter. Deductibility of donations or contributions varies in other countries based on local laws, treaties with the U.S., etc. Therefore, we recommend donors based outside the U.S. should consult with a qualified advisor regarding the tax or equivalent rules covering deductibility.
Please do not hesitate to contact us with any questions, and thank you in advance for your support!