Onward Yankton is now recognized as a 501(c)3 nonprofit, a move that will benefit the organization as it launches its $2 million capital campaign.
Charitable organizations designated with the 501(c)3 status are eligible to receive tax-deductible contributions, which will benefit businesses and individuals considering financial donations to Onward Yankton, said President R.J. Rieger.
“Our goal is to raise two million dollars over the next three years,” he said. “We’ve been working closely with many of our stakeholders, those larger businesses who want to support Onward Yankton’s mission because it will improve the quality of life for its current and potential employees.”
Onward Yankton is dedicated to advancing the public interest in community preservation and improvement by encouraging the development of entrepreneurial thinking and activity. The organization focuses on three missions: Promoting and fostering entrepreneurship, creating strong partnerships with local education entities and developing a thriving creative downtown district.
In addition to private donations, Onward Yankton is also actively pursuing state and federal grants, which range in value from $5,000 to $500,000, Rieger said.
“We feel confident that we will reach our two-million-dollar goal by 2018,” he said. “These funds will provide a sustainable path for us to grow our entrepreneur and small business presence in Yankton and revitalize the downtown. To accomplish this and help Yankton reach its potential, we need community support, and we hope our tax-exempt non-profit status encourages local businesses and supporters to choose Onward Yankton when considering opportunities to give back to the community.”