Jimmy’s Vision Foundation

The Foundation has received from the Internal Revenue Service a favorable “advance ruling letter” granting provisional tax-exempt status to Jimmy’s Vision Foundation.

1.) Tax-Exempt Status
This ruling is retroactive to the date of incorporation which was August 13, 2003. The ruling indicates that the Foundation will be treated as a publicly-supported charitable organization described under section 509(a)(1) of the Internal Revenue Code and not as a private foundation during its advance ruling period, which ends June 30, 2008. During the advance ruling period the Foundation may receive contributions from individuals, corporations, estates, trusts, and other foundations (public or private). Cash contributions from individuals will generally be deductible by the donors up to 50 percent of their adjusted gross income. At the end of the advance ruling period the Foundation will be notified by the IRS that it has 90 days to submit additional financial information covering the five year period to support its claim for the status as a publicly supported charity. If the financial data submitted demonstrates sufficient public support, the Internal Revenue Service will issue a definitive ruling on the Foundation’s tax-exempt status which will be valid until and unless there is substantial changes in the Foundation’s exempt activities or sources of financial support.

2.) Disclosure of Application for Recognition of Exemption and Information Returns
The Foundation has a copy of its Form 990 for the last year and will provide them for the past three years as those years arrive. They are available for public inspection at our principal office of organization. The names of the contributors will not be disclosed. A copy of the application for recognition of Exemption (Form 1023) and all related correspondence with the Internal Revenue Service will also be available for public inspection at the foundation’s principal office.

3.) Registration – Charitable Solicitation
The Foundation plans to solicit contributions from the general public in the state of California and is registered with the Office of the Attorney General having Form CT-1 available for inspection. Similar registration will be obtained in other states in which the Foundation plans to solicit contributions if required by such state.