Torch of Wisdom Foundation
The Torch of Wisdom
Foundation is a 501(c)(3) Public Charity which allows individuals to
and/or corporations to make a tax-deductible contribution. The Foundation
was established in 1993 in Southfield, Michigan.
Purpose
The purposes for which the Foundation is organized are as follows:
To help, improve and promote education in the United States.
To solicit, collect, receive and administer funds exclusively for
charitable, scientific, and educational purposes as permitted in Section 501
(c)(3) of the IRS Code of 1954, as amended.
To sell, convey, and dispose of any such property and to invest the
principal thereof, and to deal with and expend the income and assets of the
corporation in such a manner as in the judgment of the directors will best
promote its objectives and purpose, without limitation, except such
limitations, if property is received.
In general, to exercise any, all and every power which is consistent
with the purposes described above and which a non-profit corporation
organized under the provisions of the Michigan Non-Profit Corporation Act
can be authorized to exercise but not any other power.
Why We Solicit Funding
The Torch of Wisdom Foundation was inspired by a group of African
American, college educated women. As leaders and volunteers in numerous
public service entities, the incorporating members had the foresight to
acknowledge the need to take their service to another level. They realized
the need to incorporate a 501 (c)(3) Public Charity. The Torch of Wisdom
Foundation provided an avenue to solicit funds and stimulate contributions
for the support of public service programs.
Project Goals
The Torch of Wisdom Foundation actively seeks funding for three major
purposes.
Scholarship
Funds are solicited through scholarship fundraisers. Monies generated are
provided to students who exhibit academic excellence, financial need, and
community service involvement.
Art
Funds are solicited for programs which are held to heighten awareness of the
arts, expose the talents and works of local and national artists, and
provide scholarships to students pursuing higher education in the field of
the arts.
Building Fund
Funds are solicited to purchase a facility which would be used for community
service projects, seminars, workshops, and other charitable activities.
Distribution of Assets Upon Dissolution
Upon the dissolution of the Foundation, assets shall be distributed for
one or more purposes within the meaning of section 501 (c)(3) of the
Internal Revenue Code.
Tax Deductible Benefits
Michigan Federal Employees
Tax Deductible-Payroll Deductions
BUF-MIFED #3903
Individuals and Corporations
Tax Deductible Contributions
Establishment of a Partnership with a Public Charity
Support of Community Outreach Programs
Promotion of the Arts and Education
For additional information, please address all correspondence to:
Torch of Wisdom Foundation
P.O. Box 2787
Southfield, MI 48037
(248) 788-8505
(313) 862-9525
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