The Sports Initiative is a registered Nonprofit in the state of Colorado, USA.
What is a 501 (c)(3)
A 501c3 is an IRS-designated tax-exempt charitable organization. This means, The Sports initiative (TSI) is recognized as a nonprofit organization (or "public charity") in the United States of America and is not required to pay federal income taxes.
Why Establish as a 501 (c)(3)
As a 501c3, TSI has the advantage of a traditional NFT project that has the potential to increase its value over time based on supply and demand, but we also have the advantage of a 501c3, which includes:
- The reliability & trust of a formally established organization
- The ability to receive public &private grant funds and donations
- Led by a TSI-based Board of Directors with the same mission & vision
- Attracts people who believe in the power of sports, TSI, and giving back, but don't necessarily want to be in NFTsAllows multiple streams of investments to fuel the mission & vision of TSI