The Lorenz Family Aviation Foundation’s tax-exempt status has been designated under Internal Revenue Code (IRC) Section 501(c)(3). Donors can deduct contributions from the foundation under IRC section 170.
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual.
The Foundation’s tax-exempt status means your donation is tax-deductible. If you are donating to a 501(c)(3) organization, it is deductible on your federal income tax return. This means that the IRS considers your donation a charitable contribution and will help reduce or eliminate any taxes that may be owed.
Your tax-deductible donation will help a future pilot reach their goal by providing funding for a certificate or rating. Our goal is to create more pilots, mechanics, and other aviation personnel and grow the pipeline of professionals entering the aviation field.