We received the Public Benefit Organization status!
Little Leaders Foundation has recently been recognized as a Public Benefit Organization (PBO). An organization can only be a PBO if its efforts are almost entirely committed to the public benefit. In order to qualify as a PBO, one must meet numerous criteria that show transparency to those involved with the organization and have a positive effect to the public benefit. Such criteria include:
The institution must serve the public interest with almost all of its activities. This is the 90% requirement. This must be apparent from, among other things, the statutory objective and the intended activities.
The institution is a non-profit organization and is not focused on profit with all of its activities that serve the public interest.
No natural or legal person may dispose of the institution's assets as if they were its own assets. Directors and policymakers may not have a majority of control over the assets of the institution.
The institution has an up-to-date policy plan. (Policy plan 2020-2023 )
The institution complies with the administrative obligations.
The institution publishes specific data on its own or joint website, such as insight on the financial statements. (Financial statements 2020 )
We are recognized as a PBO by the tax authorities and can therefore make use of certain tax benefits. This also applies to sponsors and donors. But why did we apply for an inspection to become a PBO? When we look at other foundations or charities, we always immediately check whether they are recognized as PBO. This shows that a foundation does clean work, that no money is withheld or used for wrong purposes. It also means that the organization contributes to society with sincere and selfless intentions. As a sponsor or donor, a foundation that is recognized as a PBO is just more attractive to invest in. You don’t have to research the income and expenses of a foundation yourself, because the tax authorities have already done that!
How can you tell that a foundation is recognized as a PBO? Among other things, you can find the foundation in a PBO register, but on the website of a foundation, you often see a separate page with information about the foundation as a PBO or you see the PBO logo at the bottom of the footer, which is often done in the Netherlands with the Dutch ANBI-logo (Algemeen Nut Beogende Instelling).
Although it took us a lot of effort to go through all the checklists, update the information on our website and increase the transparency of our foundation, the work has been totally worth it! We proudly carry Little Leaders Foundation as a Public Benefit Organization and see this as a boost in the development of the foundation. With even more motivation, we look forward to a fruitful future for the organization and especially the future of our Little Leaders!
