FOR IMMEDIATE RELEASE 12/28/16
Yiannopoulos Privilege Grant
The Yiannopoulos Privilege Grant Announces Non-Profit Filing and January Applications
As we end 2016, the Privilege Grant has a clear road forward and can announce our application schedule for our first grant to students.
The Grant was set up as a private company, following legal advice that we’d be in for a potentially difficult and costly process with the IRS to become a 501(c)3 charity. The problem with the private company approach is that the Privilege Grant could encounter serious tax liabilities that would have significantly lowered the funds available to provide to students.
In November we were fortunate enough to find a donor willing to assist the Privilege Grant by paying for the services of a top Washington firm specializing in 501(c)3 filings with the government, and we are happy to announce the Privilege Grant is in the process of being filed with the IRS as a non-profit.
We will open applications for our first grants to students in late January. We will close the applications after several weeks, and grants will be awarded in March. Grant money will be sent to students as soon as the IRS clears the Privilege Grant to disburse funds. We expect that clearance in late March or early April.
We will provide another update in several weeks with exact timing on Privilege Grant applications along with other details. We appreciate the support of our donors and look forward to changing the lives of young men pursuing their educations in 2017.