Since our organization is legally incorporated at the state level, we can solicit and receive donations, contributions, and grants, and deposit those funds into our corporate bank account. The fact that the federal tax-exemption application remains pending does not prevent the organization from accepting charitable support or operating in furtherance of its exempt purposes. Valley Independent Preparatory Academy, Inc., is a California nonprofit corporation with a pending application for recognition of exemption under Section 501(c)(3). If the IRS ultimately recognizes the organization as exempt and the Form 1023 was timely filed, the exemption would generally be retroactive to the date of incorporation, and qualifying contributions made during the pending period would generally be treated as tax-deductible. We cannot guarantee tax-deductibility before the IRS determination letter is issued, but we do not have any reason to believe this designation won't be granted.

Valley Independent Founding Capital Campaign

$14,700

Raised

Donations

$100,000

Goal

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