At this time, The 47 Foundation is pending 501(c)(3) approval from the IRS.

What does this mean?

We are able to accept donations (since we are registered as a charity in the state of Missouri), but the tax deductibility of donations is dependent on the 501(c)(3) approval from the IRS. We applied in October 2023, which means we will likely be approved in early 2024. Once approved, all donations between approval date and submission date will be tax deductible. As well as all donations going forward.

Our goal is to be as transparent as possible.

Therefore, here are some options:

For our runner sponsors and corporate sponsors, you could donate after the calendar year end (12/31/2023). That way your donation will go on your 2024 tax return.

For individual donations - if you plan to use itemized deductions on your tax return and claim your charitable donations, you could donate after the calendar year end (12/31/2023). That way your donation will go on your 2024 tax return. Otherwise, feel free to donate right now!

If you donate in 2023 and end up wanting to claim the charitable donation on your tax return, you will just need to wait on our 501(c)(3) approval and then file an amended tax return. Although this is a fairly straightforward process, we don’t want to cause any headache for our donors and sponsors. Ultimately, we are just trying to do some good.

If you are concerned about tax deductibility, we recommend consulting with your tax advisor or accountant.

Note, our treasurer is a CPA. Feel free to call or email Cam Oliver, CPA if you have any questions.