Disclaimer

Federal tax laws are very clear that non-profit and 501 organizations may not use funds for the personal benefit of private interests. While it does seem counter intuitive, this means that the KFF may use funds to promote awareness on the issue of missing persons but may not use funds for purposes which benefit a private shareholder of the foundation. Private shareholder is defined broadly to include anyone with an interest in the organization. The KFF may not use foundation proceeds for purposes relating to Kyle. Funds that The KFF wish to be used for that purpose cannot come from the foundation and cannot be tax deductible.

Donations to the foundation are tax deductible in the year that they are made as long as we file the 1023 form by Feb. 2010 (within 27 months of the date of incorporation). If the tax exempt status is ultimately not recognized, then donors would lose that deduction. To be clear, we do not need the approval of the 1023 form By February 2010, we only need to file. Accordingly, donors who take the deduction risk have the account for it at some future time if the tax exempt status is not recognized. Presumably, the foundation will address the concerns of the IRS (if any) so that the risk that the IRS does not recognize the foundation as a tax exempt entity is not high.

If a donor wants to make a direct taxed gift to the family please write to info@thekff.org