Update on our 501(c)(3) status

Posted Thu, 10/28/2010 - 12:59pm by Anonymous
October 19, 2010
 Due to an inadvertent oversight, the following information has just come to the attention of the BEDA Board of Directors. BEDA was initially approved by the IRS as a 501(c)(3) tax exempt organization. Therefore we have been operating as a volunteer board under that belief. During a recent internal audit the directors investigated our tax exempt status. We found that a technical requirement was not met and our status was never awarded. We are committed to resolve this matter as soon as possible but for now we are assured that we are not a 501(c)(3). 
 
BEDA is and always has been a Colorado non-profit corporation and our primary purpose continues to be promoting commerce in Grand County and helping local business succeed through cooperation, support, networking, improvement, grants and education.
 
On behalf of the BEDA board we thank you for your support.