IRS regulations require that private foundations verify the exempt status of any 501(c)(3) public charity before making a grant, to ensure it is currently in good standing with the IRS. The most accurate and comprehensive source for this information is the IRS Business Master File (BMF).
While the BMF is publicly available, it is neither simple nor easy for an individual to decipher. GrantSafe's proprietary technology eliminates that hassle and complication. Finding an organization is now as easy as typing in the organization's name or tax ID number. A green check mark or red "X" instantly tells you the status.
For verified public charities, it takes just a few mouse clicks, and you can print or save a date-stamped Validation Certificate for your files, as required by the IRS.
Want to know more about GrantSafe®? Read our FAQsFrequently Asked Questions
"While researching organizations on behalf of our clients, we found that 10 percent of the organizations they intended to make grants to had either lost their exempt status or were not public charities at all.
Instead, they turned out to be other types of exempt organizations, such as civic associations, business leagues or perhaps private foundations they thought were public charities, all of which require foundations to exercise expenditure responsibility when making a grant. GrantSafe lets you grant with confidence."