GREEN BUILDING INITIATIVE™ OFFICIALLY RECOGNIZED AS 501(c)(3)
Acknowledgment Allows Non-Profit to Continue "Bringing Green to the Mainstream"
PORTLAND, OR (April 10, 2006) — The Green Building Initiative (GBI) today announced it has received a favorable determination from the Internal Revenue Service (IRS) regarding its application for status as a 501(c)(3) charitable organization.
As a 501(c)(3) organization the GBI is tax-exempt and donations to the GBI by individuals and corporations are tax deductible under Section 170 of the Internal Revenue Code. It is also qualified to receive private and public grant money.
"This designation validates our charitable and educational mission and opens up a broad range of potential funders and partners as we continue our important work of bringing green to the mainstream," said Ward Hubbell, executive director of the GBI.
Based on this formal recognition as a public charity by the IRS, the GBI plans to post its bylaws in the coming weeks. For more information about the GBI visit www.thegbi.org.
ABOUT THE GREEN BUILDING INITIATIVE: The mission of the Green Building Initiative is to accelerate the adoption of building practices that result in energy-efficient, healthier and environmentally sustainable buildings by promoting credible and practical green building approaches. A not-for-profit education initiative, the GBI is supported by a broad cross section of organizations and individuals with an interest in residential and commercial construction. For more information on the Green Building Initiative, please visit www.thegbi.org.