The IRS recognizes the time it takes to complete the 501(c)3 application/approval. Therefore, under federal tax law, an incorporated non-profit organization has up to 27 months to file the application for permanent 501(c)3 status. That information can be found here: http://www.irs.gov/charities/article/0%2C%2Cid=96109%2C00.html Except for churches, their integrated auxiliaries, and public charities whose annual gross receipts are normally less than $5,000, organizations will not be treated as described in section 501(c)(3) unless they notify the IRS by applying for recognition of section 501(c)(3) status.
Generally, organizations required to apply for recognition of exemption must notify the Service within 27 months from the date of their formation to be treated as described in section 501(c)(3) from the date formed. When the IRS determines that an organization qualifies for exemption under section 501(c)(3), it will also be classified as a private foundation, unless it meets the requirements to be treated as a public charity.
Currently FAST Aid will extend support to injured racers, media and pit crews that are participating in sanctioned races within the borders of the United States. These will cover BITD, DRIVE, LOORS, MDR, MORE, SNORE, SCORE, & TORC. We strive to help all that we can and as we grow as an organization we plan to expand our support to other states.
What type of help does FAST Aid provide?
FAST Aid can provide preventative, financial and emotional support for drivers, media and team members that are injured during races. Uniquely FAST Aid has Safety Classes that can help you be prepared in the event of an accident and prevent causing further injury to a person. We offer financial assistance to those who may require additional funds as a result of injury. Also we offer emotional support by helping families through difficult times by visiting patients in the hospital and ensuring that families are able to be with their injured loved ones.
How can I be apart of FAST Aid?
The Individual:As an individual you can help in more ways than you think! First off talk about us-help spread the word about FAST Aid by sharing the site with anyone you think would be interested. You can also volunteer to help at events, classes or visit injured racers. Don't have the time but still want to make a difference? Any monetary donation will help the racers fund and are greatly appreciated!
The Racer: As a racer you can spread the word to fellow racers, pit crews, and fans! Sign up for Safety Classes that will educate you and your team on what to do or not to do in the event of an accident or other emergency situation. You may also donate autographed items that can be auctioned off at FAST Aid events or online, from which proceeds will go into the racers fund. Have a team site? Post a link to our site on your site!
The Corporation: As a corporation or industry related company you have many options available to help! We will work together to promote your company as well as FAST Aid at events, through online sales and marketing plans. We can work together and do a drive where a percentage of sales are donated towards the racer fund, you can allow us to include informational brochures and stickers inside of your outgoing orders and many other options. Your donations will be greatly appreciated and we will add a link to your website in our Sponsors section.
How do I recommend an injured racer? If you know someone that has been injured in a race please send us a detailed email explaining the incident and what help would is being requested. A representative will get back to you in order to collect more pertinent information in regards to your case. We want to help everyone that we can and will do our best to work with each individual.mailto:email@example.com