Leffler Foundation Inc Name
Any name that is longer than 10 letters as generally too long for public consumption. Leffler Foundation Inc is one of these names. While LFI is shorter and easier in logos, it’s important to retain the long form name as it carries the name of our founder and his father.
The name also has begun to build a history of its own, in the use of the word Foundation. It was originally chosen to differentiate the nonprofit purpose of the organization from other corporations.
A Foundation We Are Not
A foundation is actually a type of nonprofit for tax purposes. Foundations typically receive the majority of their funding from a trust or a family. This organization is not a foundation as defined by tax law. This can lead to confusion and a name change would address this issue.
Both have 501(c)(3) status, but how they get funding differs. Public charities get more funding through the general public and government. Private foundations get more funding through individuals or businesses.
Ultimate SEO LLC and Matthew Leffler are the primary sources of funding presently but with the 501(c)(3) determination pending we will seek out additional sources of revenue.
Leffler Foundation Inc is actually a public charitable organization. We fully plan to seek grants and funding through true “Foundations” to deliver our charitable mission to the public. For this reason going by LFI helps to retain the original name while being more clear and easily remembered.
Board To Vote On Adopting LFI As Assumed Name
A vote to file LFI as an assumed name is now pending with the Board of Directors as allowed by the bylaws. This vote will be held May 17, 2020. For information about the next board meeting please use the contact form.