Charity
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 NFTs
Allows multiple streams of investments to fuel the mission & vision of TSI
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