One Fund gets tax-exempt nonprofit status
The One Fund Boston Inc., which has raised more than $30 million to benefit victims of the Boston Marathon bombing, has officially become a tax-exempt nonprofit, according to Dot Joyce, a spokeswoman for Boston Mayor Thomas M. Menino.
The IRS approval clears the way for the fund to collect millions of dollars in pledges that were contingent on the fund becoming a 501(c)3 nonprofit. The fund has received more than $12 million from individuals and more than $17 million in pledges from corporations.
The fund plans to distribute forms for victims to file claims starting Wednesday. Victims and their families will have until June 15 to file the claims, while the money is expected to be distributed by June 30.
Three people died and more than 260 were injured in the blasts at the Marathon finish line on April 15.
IRS spokeswoman Peggy Riley could not immediately confirm whether the fund had received tax-exempt status