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July 9, 2017

Your GaymerX Foundation donations are now tax deductible

by John_A

Indie gaming company MidBoss formed the GaymerX Foundation in 2016 after years of running an annual convention for LGBTQIA game developers and fans. According to its website, it’s “focused on the preservation and celebration of queer geek and gaming culture, through supporting current developers and archiving historically significant achievements in this field.”

Now, the foundation has announced that it’s officially recognized as a 501(c)(3) nonprofit organization, opening new opportunities to further its mission to promote diversity and to celebrate the LGBTQ+ community’s place in the video game industry. For you, that means being able to write off donations made through the foundation’s website or through its Patreon page.

501(c)(3) non-profit orgs don’t have to pay federal taxes, and they may also be exempted from paying sales and property taxes. In addition, the status makes the foundation eligible for grants or government funding and for free or discounted rates from media outlets when making announcements or distributing press releases. In exchange for all those perks, GaymerX can’t engage in business that benefits individuals in the organization and must stay true to its purpose, or else it will lose its status.

As the group said in its announcement:

“Being a non-profit allows for certain donations to be tax-deductible, gives us access to more resources, and allows you better transparency and confidence in where your money is going.

In the future, we hope to be able to expand upon our goals and vision with GaymerX Foundation — beyond just organizing queer events for ga(y)mers of all kinds — we also want to help catalogue, support, and provide resources to queer devs and queer game communities…”

Via: VentureBeat

Source: MidBoss

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