The Fako Foundation Incorporated is an IRS 501(c) Tax Exempt Status Organization. The activities of the foundation’s Board of Directors and the Executive team will be governed by the following documents:
a. Articles of Incorporation
The Fako Foundation’s Articles of Incorporation describes the purpose of the foundation as well as the management structure. It also lists the names of the individuals who are acting as incorporators for the Foundation as well as initial directors for the Foundation.
The Fako Foundation Bylaws will serve as the organization’s operating manual. It outlines (a) the role and responsibilities of the Board of Directors and other officers, (b) the rules, procedures and schedules for holding the Foundation’s meetings, (c) the terms of office of the Board of Directors and other elected officials, (d) other essential Foundation governance matters.
c. IRS 501(c) Tax Exempt Status
The Fako Foundation, Inc has fulfilled the conditions for a Tax Exempt Status (Section 501(c)(3)) and has been granted such status by the Internal Revenue Service (IRS) of the US Department of Treasury. Donations and other contributions made to the Fako Foundation are tax-deductible.