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The Tri-Cities have a new 501(c)(3) charitable organization.
The Geneva Chamber of Commerce just announced launch of the Geneva Chamber Foundation, a separate charitable arm that can take tax-deductible donations, pursue grants, and partner on community projects.
It’s a new chapter for an organization that has served the town’s business community for more than 75 years.
Here’s what to know:
A separate foundation: The foundation’s 501(c)(3) status means businesses and residents can make tax-deductible contributions. Since the Geneva Chamber is a 501(c)(6) organization, donations to that organization typically can’t be deducted as charitable gifts.
Nothing changes for members: The chamber will keep running its usual membership programs and activities, and its mission stays the same.
What it will support: Chamber President Paula Schmidt said the foundation will look for new funding sources to back projects that improve quality of life in Geneva, celebrate the town’s character, and create opportunities for residents, businesses, and visitors.
"There's a real understanding that when our businesses do well, our entire community benefits,” said Michael D. Olesen, chair of the Geneva Chamber of Commerce Board of Directors. “That's the spirit behind this foundation. We want to build on that generosity and create more opportunities for people to come together and invest in Geneva's future."
Learn more at genevachamber.com.
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