Back in December, we officially filed for the 501(C)3, tax-exempt status for our non-profit wing, Valor Foundation with the IRS.
A 501(c)(3) organization is a non-profit organization established for religious organizations (e.g., churches), charities, and certain educational institutions.
The main purpose of Valor Foundation will be to research and development towards better aquaponics farming methods, but more importantly in the conservation of local game fish, such as rainbow trout and yellow perch.
Funds raised through the Valor Foundation will be used to purchase additional breeding stock of both fish and also purchase any equipment necessary to help raise and breed both fish. Through the foundation’s efforts, our goal is to be one of the largest yellow perch farms in the country and one of the first to successfully and sustainably breed both species regularly.
We’re getting closer to having our application processed as the IRS are processing applications up to November 19th. We officially filed Dec 15th, so we hope to have our application start processing very soon.