Parma Heights, Ohio (April 5, 2010) – In a notification dated March 31, 2010, the Quarter Mile Entertainment Foundation (QMEF) received formal acceptance from the Internal Revenue Service of the Foundation’s request for recognition as a Section 501(c)(3) organization. Under the provisions of the Internal Revenue code, the Foundation is now considered a public, not for profit, educational charitable organization.
Prior to the formal acceptance by the Internal Revenue Service, the Quarter Mile Entertainment Foundation had been operating under the status of a “pending” Section 501(c)(3) organization. The Foundation had been previously granted charitable foundation status by the State of Ohio.
“This is a watershed moment,” observed Traci Hrudka, Chairman of the Quarter Mile Entertainment Foundation. “While the ‘pending’ status gave us most of the provisions of being a not-for-profit charitable organization, there was always the potential the Section 501(c)(3) might not be granted, for some reason.
“With this acceptance from the Internal Revenue Service, the last bit of doubt has been removed.”
While the acceptance of the Foundation as a Section 501(c)(3) organization by the I.R.S. does not change any of the formal structure or operation, it does, however solidify the Foundation’s stature, and allows the organization to provide financial supporters with documentation their fiscal backing is tax deductable for the tax year in which it was made. All contributions made during the Foundation’s period as a pending Section 501(c)(3) organization have always been tax deductable under the provisions of the I.R.S.
Ms. Hrudka cautions contributors from outside the United States that this notification impacts only citizens of the United States, and citizens of other countries cannot claim a deduction from their tax liabilities. | 
