Adeosun's Foundation Granted Non-Profit, Tax Exempt Status By US Government

The Foundation said it received its new status under Section 501(c)(3) of the US Internal Revenue Code.

According to Adeosun, "contributions from corporations and individuals inclusive, donated to the New York-based Dash Me Foundation (US) are now fully tax-deductible" owing to its new status.

The status also means that "the Dash Me Foundation (US) was now eligible to apply for government and foundation grants, which will further broaden access to resources and strengthen its ability to raise funds for orphans and vulnerable children, victims of domestic violence and disadvantaged youth," according to the statement.

The statement quoted the ex-Finance Minister as saying, "The Dash Me Foundation US is proud to announce that it is officially a non-profit with tax-exempt status under Section 501(c)(3) of the United States Internal Revenue Code.

"The granting of a non-profit status to Dash Me Foundation in the United States is a major milestone for our growing organisation, and we are excited about the prospects it creates. Attaining recognition of our Charitable Status by the American Internal Revenue Service was a rigorous process and we are proud to have met all the requirements."

Adeosun also said that now the US team could actively mobilise donations and support from its extensive US based diaspora as well as corporations and foundations, interested in supporting indigenous charitable work in Nigeria and beyond, according to the press statement.