501(c)(3) approval granted

We are happy to have received word that the Internal Revenue Service has determined that The Elster Forbes Foundation is exempt from federal income tax under IRC Section 501(c)(3). The effective date of exemption is May 18, 2018.

This means that donors can deduct contributions they make to the Foundation under IRC Section 170. The Foundation is also qualified to receive tax deductible bequests, devises, transfers, or gifts under Section 2055, 2106, or 2522. The Elster Forbes Foundation has been determined to be a private foundation within the meaning of Section 509(a).

This exciting development means that we can now carry out our multiple charitable missions as originally proposed.