Fri, Dec 01, 2006
Eases Burdens For Organization, Donors
Aero-News has learned
the Corporate Angel Network (CAN) -- a national non-profit which
provides free air transportation for cancer patients by using the
empty seats on corporate and fractional aircraft -- has received
official classification as a "public charity" by the Internal
Revenue Service. The IRS issued a determination letter on June 5,
2006 making permanent CAN's status as a public charity, retroactive
to January 1, 2001.
As a public charity, CAN now enjoys the following
advantages:
- it is not subject to the two percent tax on net investment
income and various other regulatory excise taxes, which means more
funds to be used for CAN’s charitable operations;
- as a so-called "50 percent charity," donors will receive the
most favorable income tax treatment for their donations;
- less onerous paperwork is required in filing CAN’s annual
tax returns;
- CAN now can receive grants and other funding from private
foundations seeking to support CAN’s work.
Corporate Angel Network (CAN) arranges free flights for cancer
patients using the empty seats on corporate business flights. Since
its founding 25 years ago, CAN has grown to include 530
participating corporations, five paid staff, and a team of 50
part-time volunteers who work with patients, physicians, corporate
flight departments, and leading treatment centers to coordinate
medical travel needs of cancer patients with the scheduled flight
activity of participating corporations.
To date, CAN has arranged nearly 25,000 flights and currently
provides about 200 patient flights a month. CAN has received
numerous awards in recognition of its service to cancer patients,
including The Volunteer Action Award, the highest volunteer award
from the President of the United States.
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