MomofTrips

kimarino13

In your blog, where you have the donate button for "The Multiples Fund", what exactly does "Any donations will go to help families of multiples in times of crisis/ need" mean?  Does it go to a specific organization?

Just curious!

Thanks!

MandieSueM

It can go to me!  I have triplets and am in need of $$.  My whole life is a time of crisis and need.

MarcieCasavant

Word! Me too!

kimarino13

MomOfTrips

Being on the boards and becoming a parent of multiples has really opened our eyes as to how easily it can be to get to a crisis point with money, especially if one of the babies has a serious medical need. I have talked with several people who have had to file bankruptcy, move back in with family, etc.  We have been very blessed, and even though we struggle at times it is nothing compared to others. So this promoted us to start a fund and foundation for those type of people.

Currently we are working on getting non-profit status for the foundation so that donations are tax deductible and we will make public as to where the money is going (without divulging personal information/ names). Right now it is in the beginning stages and we are trying to build up the fund. Then we will have applications available for those who are in need of assistance. We have also been gathering other resources as well that could help those in time of crisis, so they can hopefully get all they need.

I have worked with non-profits/ foundations similar to this for over ten years so I have a lot of experience as to how it all works. All the money collected from donations and a part of all sales from The Triplet Store will go into the fund. I do not take a salary from the foundation and neither does anyone else. It is done strictly on a volunteer basis.

 I just wanted to do something to help other families of multiples out there and this seemed like a good way to start. I can understand if some people are skeptical, just because so many people out there are far from honest, that is why a large portion of the proceeds from The Triplet Store sales go into the fund. That way people get something for their money and the fund gets money put into it. There are some items, like the multiples calendar for next year (see "contest" section in blog for information) that all the proceeds will go into the fund. My hope is that by the end of the year there will be enough in there to start distributing it to those who need it. It may not be a lot at first, just depends on how much is in the fund, but even a little is better then nothing.

 I hope that answers your question. If not, just ask away.

FaeryStarGazer

Aren't you working kind of backwards? Perhaps you should wait to collect money (that people think is going to an organization that exists when for the time being, it doesn't) until after you have your non-profit tax ID number. You could be collecting applications while you wait for the ID number then you can immediately launch a specific collection for a specific family. You may find people are more willing to help out specific families rather than dump money into a strangers hands- regardless of their good intentions.

FaeryStarGazer

Also, any money you collect now, before the organization is officially running, you will have to claim as income on your taxes.

Temp159135562506975

Ditto both of FaeryStarGazer's replies...  I'm hoping nobody has donated - but if they have already- you do need to report that as income- no matter what you do with it.

how long does it take to get the ID number? I thought that happened pretty fast... it did for me back when I had to set up a non-profit a few years ago... what's taking so long?

MomOfTrips

It is the non profit status that we are waiting/ working on right now. The organization is already up and running. It's just that right now when people donate they can't claim it as a deduction on their taxes until the 501(c) status is set. It does go fairly quickly but there are hoops you have to jump through to get 501(c) status which is where we are at.