On March 7, Emerging Prairie received official confirmation from the IRS to operate as a 501(c)3 non-profit.
The announcement comes much more quickly than anticipated. Emerging Prairie filed in December, with an expected wait time between five to eight months. Three months later, Program Director Annie Wood opened a boring looking envelope at the Prairie Den and shouted, “We got it!”
The team proceeded to have a champagne toast, and ran off to congratulate Patrick Dixon, an attorney at Danielson Legal, who lead the filing process (Thanks Patrick.)
“Obtaining non-profit status has a huge impact on our ability to raise funds from the community,” said Miguel Danielson, Emerging Prairie Board Chair. “It also helps clarify that our mission is, first and foremost, one of giving back to our community.”
The initial decision to move from a for-profit model to a non-profit model was decided on in September of 2014.
Prior to becoming a non-profit, Emerging Prairie operated on sponsorship money and various consulting opportunities. The organization is no longer accepting consulting partnerships, but is now able to receive tax-deductible donations.
Next steps include building out the Board of Directors, as well as exploring new opportunities to serve the community.
“As we transition into to a non-profit organization, we are expanding our Board of Directors to include more voices and viewpoints,” Danielson said. “As we do this, we are also building the governance infrastructure to ensure that our organization is accountable and responsible to the public we serve.”
Emerging Prairie is a non-profit dedicated to connecting and celebrating the entrepreneurial ecosystem in the Fargo-Moorhead region. This mission is manifest through running a coworking space called the Prairie Den, hosting events such as 1 Million Cups, TEDxFargo, Drone Focus meet-up, E-commerce breakfast, and organizing industry related conferences like Drone Focus Con and Click. Emerging Prairie also produces an online publication at emergingprairie.com which covers startup activity in the region.
