The government’s revenue agency has consequently issued a tax-deductible donations certificate to DashMe Foundation.

The certificate was issued to the Foundation last week Thursday in Abuja.

DashMe, a Lagos-based charity with operations in Nigeria, the United States and the United Kingdom, was founded by former finance minister, Kemi Adeosun, in June 2021.

The FIRS issues tax-deductible donation certificates to carefully vetted registered charities whose operations meet Nigeria’s statutory ‘public character’ requirements.

Section 25(c) of the Companies Income Tax Act (CITA) permits companies which make charitable donations to charities with tax-deductible donations certificates to a ‘donation relief’.

READ ALSO: Kemi Adeosun: Dash Me Store rekindles my love for the vulnerable, needy

The donation relief provision is aimed at encouraging corporate bodies in Nigeria to channel their Corporate Social Responsibilities (CSR) donations to carefully-vetted non-governmental bodies, associations and institutions engaged in life-changing, socially-relevant projects.

In a statement on Sunday, the DashMe Foundation said corporate organisations that donate to it will now enjoy donation relief under its new status, which is an allowance to deduct their donations from their taxable profits.

The former finance minister expressed her delight at the FIRS’s tax-deductible donations certificate to DashMe Foundation.

Reacting on the development, Adeosun noted that the issuance of the certificate by the country’s foremost tax body is a recognition of the charity’s strides in the past year and its commitment to changing the lives of  vulnerable Nigerians.

Adeosun, who recalled that DashMe was recently granted a similar certificate in the United States, added that the approval would energise the charity’s drive to obtain the same tax-exempt status in the UK.

She said, “I am delighted that FIRS has recognized DashMe Foundation as being worthy of this rare status. We believe that more corporate bodies will be incentivised to donate to us now that they know that their donations will be fully tax deductible.

“The certificate will significantly enhance our capacity to raise more funds from the corporate sector and also enhance our ability to initiate more life-changing projects for Nigeria’s most vulnerable children, women and other disempowered groups.”

The interim Chief Executive Officer of the organisation, Tomisin Akinwunmi, also expressed excitement at the funding possibilities that the charity’s new status offers.

“We are thrilled by this development. Our projects are making a huge difference in the lives of people and this certification will encourage us and our partners to do more. We are thankful to the FIRS for providing us with over N200 million in the past year, through its thrift shops, corporate donations drives and snacks business.

Akinwunmi said the Foundation had raised over N200 million in the past year, through its thrift shops, corporate donations drives and snacks business.

It has also undertaken projects in Borno, Cross River, Imo, Kano, Lagos Nasarawa, Niger, Ogun and Osun States.

She added that the Foundation planned to extend its operations to all parts of the country by year-end 2023.

The Foundation’s current projects include orphanage building projects in Imo and Ogun states, sponsorship of orphans in universities, provision of prosthetic limbs and start-up capital for amputees, as well as  regular food donations to several orphanages and IDP camps.

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The Founder of Dash Me Foundation, Mrs. Kemi Adeosun, who expressed delight at the development, said contributions from both corporations and individuals, donated to New York based Dash Me Foundation (US) are now fully tax-deductible.

The former Minister of Finance added that the Dash Me Foundation (US) was now eligible to apply for government and foundation grants, which would further broaden access to resources and strengthen its ability to raise funds for orphans and vulnerable children, victims of domestic violence and disadvantaged youth.

Adeosun said, “The Dash Me Foundation US is proud to announce that it is officially a non-profit with tax-exempt status under Section 501(c)(3) of the United States Internal Revenue Code.

“The granting of a non-profit status to Dash Me Foundation in the United States is a major milestone for our growing organization, and we are excited about the prospects it creates.  Attaining recognition of our Charitable Status by the American Internal Revenue Service was a rigorous process and we are proud to have met all the requirements.”

She stated that the US team could now actively mobilise donations and support from its extensive US based diaspora as well as corporations and foundations, interested in supporting indigenous charitable work in Nigeria and beyond.

“Our Donors can now change lives in Nigeria whilst obtaining a full tax deduction in America,” said Mrs. Adeosun in a statement she issued on Tuesday.

Since its launch in Nigeria in June 2021, Dash Me Foundation has raised funds for orphanages, domestic violence shelters and the physically challenged through its Dash Me Store and other activities.

She confirmed that the Dash Me Foundation had mobilised and deployed cash and resources in projects in Lagos, Ogun, Cross River, Kano, Nasarawa, Imo, Osun and Kogi states.

“Dash Me Foundation aims to raise more funding for orphans and vulnerable children, victims of domestic violence and disadvantaged youth in Nigeria with the ambition to cover the West African region,” the founder added.

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