The institute has taken a large step forward and has received 501(c)(3) status from the IRS. While this will not affect our day-to-day operations, it will have a few positive effects for our mission.
First, we will be able to accept tax-deductible donations and any donations since our founding will be considered retroactively tax deductible as well. This means that we will soon be offering memberships to those who wish to support our work. Memberships will include perks and other benefits. More information will be made available about becoming a supporter soon. Until then, you can always head to our store and donate to the general operating fund.
Second, this status allows us to apply for grants and research funds only available to 501(c)(3) organizations. This will help subsidize our research projects and lower the cost of events and workshops.
Third, we will enjoy a number of behind-the-scenes benefits, such as reduced tax liabilities and sales tax when purchasing research materials. This is, of course, in exchange for our continued efforts to work for the public benefit through our research and educational mission.