Back in October of 2012, a small group of like-minded professionals met and discussed how they wanted to form a networking group that truly gave all of its proceeds back to the local community. With diverse backgrounds, varied professions, similar leadership experiences and the same common goal, those individuals formed 310 Young Professionals. Now that the group has been around for several months and hosted a handful of events, we felt it was a good time to explain the group’s structure and share our fundraising plan with our supporters. We have also recently filed our application for tax exempt status, a lengthy process for which we compiled our financial documents, and are now awaiting a response from the IRS.
310YP is now made up of eight Board Members and four Committee Chairpersons who all share the organization’s vision. In addition to volunteering their time and effort to host events that are fun, energetic, and business-focused, the founding Board and Committee Members all donated their own money to help get the group started. Our goal, and mission statement is to “create high-level experiences that promote the growth of professional and personal relationships while providing charitable opportunities for the (310) community.” 310YP can proudly say that we give 100% of proceeds from events and private donations back to our local charitable community.
When forming the group, it was decided that all Board Members and Committee Chairpersons would be given an opportunity to donate 310YP funds to the charitable organization of their choice. We believe this structure matches the overall organization’s performance with the effort of our volunteers. Moving forward, 310YP’s leadership team will donate all unrestricted net assets to charitable organizations with a presence in the 310 area code at the end of each calendar year. The team is comprised of twelve members (8 board members and 4 committee chairs) and each will donate 1/12 of the overall unrestricted net assets to the designated charity. Since the charities selected are personal to each volunteer, and in an effort to raise awareness of the selected charities, each member will be writing a future blog post on why they selected each tax-exempt organization.