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FOR IMMEDIATE RELEASE
MEDIA CONTACTS:
Bonnie LeVar
(914) 328-1313
bonnielevar@corpangelnetwork.org
or Meghan Weber Stanton Communications
(212) 616-3601
mweber@stantoncomm.com
Corporate Angel Network Gains Public Charity Status
White Plains, NY—(Dec. 1, 2006)—Corporate Angel Network
(CAN), the national non-profit, which provides free air transportation
for cancer patients by using the empty seats on corporate and fractional
aircraft, today announced its official classification as a “public
charity” by the Internal Revenue Service. The IRS issued a determination
letter on June 5, 2006 making permanent CAN's status as a public
charity, retroactive to January 1, 2001.
As a public charity, CAN now enjoys the following
advantages: (1) it is not subject to the two percent tax on net
investment income and various other regulatory excise taxes, which
means more funds to be used for CAN’s charitable operations; (2)
as a so-called “50 percent charity,” donors will receive the most
favorable income tax treatment for their donations; (3) less onerous
paperwork is required in filing CAN’s annual tax returns; (4) CAN
now can receive grants and other funding from private foundations
seeking to support CAN’s work.
About Corporate Angel Network
Corporate Angel Network (CAN) arranges free flights
for cancer patients using the empty seats on corporate business
flights. Since its founding 25 years ago, CAN has grown to include
530 participating corporations, five paid staff, and a team of 50
part-time volunteers who work with patients, physicians, corporate
flight departments, and leading treatment centers to coordinate
medical travel needs of cancer patients with the scheduled flight
activity of participating corporations. To date, CAN has arranged
nearly 25,000 flights and currently provides about 200 patient flights
a month. CAN has received numerous awards in recognition of its
service to cancer patients, including The Volunteer Action Award,
the highest volunteer award from the President of the United States.
For more information please call CAN at (914) 328-1313 or visit
www.CorpAngelNetwork.org.
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