Boulder B-cycle is like many new nonprofits – dependent on contributions and financial support to fulfill its mission. So not having its 501(c)(3) or tax-exempt status presented Boulder B-cycle with a challenge. Donors of all sizes wanted to be able to make tax deductible donations and were waiting to contribute until they could do so.
Boulder B-cycle realized they needed a legal partner with specialized expertise, someone who knew their nonprofit world, to help them complete the application process for becoming a 501(c)(3). The Leaffer Law Group, known for providing cutting-edge legal counsel exclusively to foundations and nonprofits, had also filed the application for Denver Bike Sharing and knew exactly what the Boulder organization needed.
“We were charting somewhat new territory with a wide range of legal implications so we knew our application had to be flawless,” said Elizabeth Train, Boulder B-cycle’s Executive Director. “Because of our business structure, meaning we take in some revenue, there was significant value and comfort in knowing that Leaffer Law could guide us in dotting our I’s and crossing our T’s.”
Finding specialized nonprofit legal expertise was key for Boulder B-cycle; however, working with a true community partner was equally as important.
“We believe in the vital role the nonprofit sector plays in serving our communities,” said Karen Leaffer, Leaffer Law’s managing partner. “That is why we are dedicated to serving nonprofits like Boulder B-cycle and look forward to seeing their organization and fundraising flourish.”
Mission Accomplished: With a good business and legal foundation, Boulder B-cycle is delivering on its mission to provide an environmentally friendly, financially sustainable, affordable transportation option for the community.
Leaffer Law accomplishes its mission when they can help a nonprofit accomplish theirs.